Taylor Wealth Management Partners lowered its stake in shares of Sprague Resources LP (NYSE:SRLP) by 33.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 0.06% of Sprague Resources worth $188,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP purchased a new stake in shares of Sprague Resources during the 3rd quarter valued at $7,172,000. Cohen & Steers Inc. raised its position in shares of Sprague Resources by 3.6% during the 3rd quarter. Cohen & Steers Inc. now owns 179,347 shares of the oil and gas company’s stock valued at $4,833,000 after buying an additional 6,280 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of Sprague Resources by 197.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 37,370 shares of the oil and gas company’s stock valued at $949,000 after buying an additional 24,791 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Sprague Resources during the 2nd quarter valued at $414,000. Finally, Cardan Capital Partners LLC purchased a new stake in shares of Sprague Resources during the 3rd quarter valued at $213,000. Hedge funds and other institutional investors own 21.25% of the company’s stock.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Sprague Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 9th. ValuEngine cut shares of Sprague Resources from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 7th. Finally, TheStreet cut shares of Sprague Resources from a “b” rating to a “c” rating in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.00.
In related news, Director Ben J. Hennelly sold 2,231 shares of Sprague Resources stock in a transaction on Friday, December 7th. The shares were sold at an average price of $16.64, for a total value of $37,123.84. Following the transaction, the director now owns 2,131 shares in the company, valued at approximately $35,459.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NYSE:SRLP traded down $0.02 during trading hours on Monday, reaching $18.73. The company’s stock had a trading volume of 100 shares, compared to its average volume of 47,023. The stock has a market cap of $443.08 million, a PE ratio of 16.46 and a beta of 1.35. Sprague Resources LP has a 1 year low of $13.76 and a 1 year 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.
Sprague Resources (NYSE:SRLP) last issued its earnings results on Wednesday, November 7th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.70). The business had revenue of $618.46 million during the quarter, compared to analysts’ expectations 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 year.
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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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