Sprague Resources (NYSE:SRLP) was downgraded by analysts at TheStreet from a “b” rating to a “c” rating in a research report issued on Thursday.
Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Sprague Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Zacks Investment Research raised shares of Sprague Resources from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Sprague Resources has an average rating of “Buy” and a consensus price target of $28.00.
Sprague Resources stock opened at $26.90 on Thursday. The stock has a market cap of $607.80 million, a PE ratio of 23.81 and a beta of 1.32. Sprague Resources has a 1-year low of $21.80 and a 1-year high of $29.00.
Sprague Resources (NYSE:SRLP) last posted its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.15). Sprague Resources had a return on equity of 19.91% and a net margin of 0.91%. The firm had revenue of $741.66 million for the quarter, compared to analysts’ expectations of $678.35 million. As a group, research analysts predict that Sprague Resources will post 3.57 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Securian Asset Management Inc increased its stake in shares of Sprague Resources by 18.3% during the second quarter. Securian Asset Management Inc now owns 71,118 shares of the oil and gas company’s stock valued at $1,806,000 after purchasing an additional 11,000 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Sprague Resources by 19.2% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 16,794 shares of the oil and gas company’s stock valued at $427,000 after purchasing an additional 2,700 shares in the last quarter. UBS Group AG increased its stake in shares of Sprague Resources by 32.9% during the first quarter. UBS Group AG now owns 8,637 shares of the oil and gas company’s stock valued at $206,000 after purchasing an additional 2,137 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Sprague Resources by 1.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 843,254 shares of the oil and gas company’s stock valued at $20,110,000 after purchasing an additional 14,200 shares in the last quarter. Finally, Nwam LLC bought a new position in shares of Sprague Resources during the second quarter valued at approximately $292,000. 20.63% of the stock is owned by institutional investors.
Sprague Resources Company Profile
Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.
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