Taylor Wealth Management Partners decreased its position in shares of Sprague Resources LP (NYSE:SRLP) by 33.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,000 shares of the oil and gas company’s stock after selling 6,650 shares during the quarter. Taylor Wealth Management Partners owned about 0.06% of Sprague Resources worth $188,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in Sprague Resources in the second quarter valued at approximately $101,000. Cardan Capital Partners LLC acquired a new position in Sprague Resources during the third quarter worth $213,000. Jane Street Group LLC acquired a new position in Sprague Resources during the second quarter worth $414,000. First Republic Investment Management Inc. increased its holdings in Sprague Resources by 197.1% during the second quarter. First Republic Investment Management Inc. now owns 37,370 shares of the oil and gas company’s stock worth $949,000 after buying an additional 24,791 shares during the last quarter. Finally, Cohen & Steers Inc. increased its holdings in Sprague Resources by 3.6% during the third quarter. Cohen & Steers Inc. now owns 179,347 shares of the oil and gas company’s stock worth $4,833,000 after buying an additional 6,280 shares during the last quarter. 21.19% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. ValuEngine downgraded shares of Sprague Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Zacks Investment Research upgraded shares of Sprague Resources from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, October 10th. Finally, TheStreet downgraded shares of Sprague Resources from a “b” rating to a “c” rating in a research note on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.00.
SRLP traded up $0.13 on Monday, hitting $19.60. 17,911 shares of the stock were exchanged, compared to its average volume of 31,394. Sprague Resources LP has a 12 month low of $13.76 and a 12 month high of $29.00. The company has a quick ratio of 1.05, a current ratio of 1.85 and a debt-to-equity ratio of 4.62. The stock has a market capitalization of $445.59 million, a price-to-earnings ratio of 17.35 and a beta of 1.35.
Sprague Resources (NYSE:SRLP) last posted its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.70). The firm had revenue of $618.46 million for the quarter, compared to the consensus estimate of $666.39 million. Sprague Resources had a return on equity of 17.62% and a net margin of 0.73%. Sell-side analysts anticipate that Sprague Resources LP will post 2.54 EPS for the current fiscal year.
In other news, Director Ben J. Hennelly sold 2,231 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $16.64, for a total value of $37,123.84. Following the completion of the transaction, the director now owns 2,131 shares of the company’s stock, valued at $35,459.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
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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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