Sprague Resources LP (NYSE:SRLP) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 24,500 shares, a decline of 23.9% from the May 15th total of 32,200 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 45,600 shares, the days-to-cover ratio is currently 0.5 days.
SRLP has been the topic of several research reports. ValuEngine upgraded Sprague Resources from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded Sprague Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Raymond James lowered Sprague Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 16th. They noted that the move was a valuation call.
Shares of NYSE:SRLP traded up $0.18 during midday trading on Thursday, reaching $17.90. 8,609 shares of the company traded hands, compared to its average volume of 28,280. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 3.76. Sprague Resources has a 12 month low of $13.76 and a 12 month high of $28.00. The company has a market capitalization of $406.87 million, a price-to-earnings ratio of 5.66 and a beta of 1.52. The business’s fifty day moving average price is $17.90.
Sprague Resources (NYSE:SRLP) last posted its earnings results on Wednesday, May 8th. The oil and gas company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.03. Sprague Resources had a return on equity of 24.31% and a net margin of 0.94%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.53 billion. As a group, equities analysts anticipate that Sprague Resources will post 1.61 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Tortoise Index Solutions LLC grew its position in Sprague Resources by 101.7% during the fourth quarter. Tortoise Index Solutions LLC now owns 3,441 shares of the oil and gas company’s stock worth $50,000 after buying an additional 1,735 shares in the last quarter. Barclays PLC boosted its holdings in shares of Sprague Resources by 100.6% in the 4th quarter. Barclays PLC now owns 16,315 shares of the oil and gas company’s stock worth $236,000 after purchasing an additional 8,181 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Sprague Resources by 4.0% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 15,494 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 600 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Sprague Resources by 10.3% in the 4th quarter. Raymond James & Associates now owns 29,886 shares of the oil and gas company’s stock worth $433,000 after purchasing an additional 2,792 shares in the last quarter. Finally, Securian Asset Management Inc boosted its holdings in shares of Sprague Resources by 3.4% in the 1st quarter. Securian Asset Management Inc now owns 64,543 shares of the oil and gas company’s stock worth $1,193,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 17.38% of the company’s stock.
About Sprague Resources
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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