Sprague Resources LP (NYSE:SRLP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “
Separately, BidaskClub upgraded shares of Sprague Resources from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sprague Resources currently has an average rating of “Buy” and an average target price of $33.00.
Sprague Resources (NYSE:SRLP) opened at 25.65 on Wednesday. The company has a market capitalization of $578.23 million, a PE ratio of 12.79 and a beta of 1.38. The stock’s 50 day moving average price is $25.35 and its 200 day moving average price is $26.61. Sprague Resources has a 12-month low of $22.50 and a 12-month high of $30.75.
Sprague Resources (NYSE:SRLP) last posted its earnings results on Wednesday, August 9th. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.40). The business had revenue of $513.63 million for the quarter, compared to analyst estimates of $529.66 million. Sprague Resources had a net margin of 1.77% and a return on equity of 29.64%. On average, equities analysts anticipate that Sprague Resources will post $4.00 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Beaton Management Co. Inc. acquired a new position in Sprague Resources during the second quarter valued at $314,000. Susquehanna International Group LLP acquired a new position in Sprague Resources during the second quarter valued at $265,000. Friedberg Investment Management lifted its position in Sprague Resources by 597.3% during the second quarter. Friedberg Investment Management now owns 57,879 shares of the oil and gas company’s stock valued at $1,632,000 after purchasing an additional 49,579 shares during the period. Virtu KCG Holdings LLC acquired a new position in Sprague Resources during the second quarter valued at $255,000. Finally, California Public Employees Retirement System lifted its position in Sprague Resources by 3.0% during the second quarter. California Public Employees Retirement System now owns 44,300 shares of the oil and gas company’s stock valued at $1,249,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 24.63% of the company’s stock.
Sprague Resources Company Profile
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