Sprague Resources LP (NYSE:SRLP) Short Interest Update

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Sprague Resources LP (NYSE:SRLP) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 31,800 shares, a decline of 18.3% from the July 31st total of 38,900 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 37,800 shares, the short-interest ratio is presently 0.8 days.

NYSE:SRLP traded up $0.02 during trading hours on Friday, hitting $17.02. 13,600 shares of the company were exchanged, compared to its average volume of 49,003. The stock has a market capitalization of $386.41 million, a price-to-earnings ratio of 5.39 and a beta of 1.48. Sprague Resources has a 52-week low of $13.76 and a 52-week high of $28.00. The company has a debt-to-equity ratio of 4.50, a current ratio of 2.03 and a quick ratio of 1.37. The company’s 50 day moving average price is $16.83 and its 200-day moving average price is $17.62.

Sprague Resources (NYSE:SRLP) last released its earnings results on Wednesday, August 7th. The oil and gas company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. The company had revenue of $662.02 million for the quarter, compared to the consensus estimate of $656.16 million. Sprague Resources had a net margin of 1.19% and a return on equity of 32.23%. On average, equities analysts predict that Sprague Resources will post 1.31 earnings per share for the current year.

SRLP has been the topic of a number of analyst reports. ValuEngine downgraded shares of Sprague Resources from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Zacks Investment Research downgraded shares of Sprague Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th.

Large investors have recently added to or reduced their stakes in the business. Fort Washington Investment Advisors Inc. OH lifted its stake in Sprague Resources by 4.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 15,494 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 600 shares during the period. Optimum Investment Advisors lifted its stake in Sprague Resources by 33.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 1,000 shares during the period. Advantage Investment Management LLC acquired a new stake in Sprague Resources during the 2nd quarter valued at approximately $267,000. Advisor Group Inc. acquired a new stake in Sprague Resources during the 2nd quarter valued at approximately $33,000. Finally, Russell Investments Group Ltd. lifted its stake in Sprague Resources by 8.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 27,690 shares of the oil and gas company’s stock valued at $491,000 after acquiring an additional 2,190 shares during the period. 23.59% of the stock is currently owned by institutional investors.

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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