SemGroup Corp (NYSE:SEMG) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 5,090,000 shares, a decrease of 7.5% from the August 15th total of 5,500,000 shares. Approximately 7.8% of the shares of the company are short sold. Based on an average daily volume of 1,960,000 shares, the short-interest ratio is currently 2.6 days.
A number of analysts have weighed in on SEMG shares. SunTrust Banks increased their price target on shares of SemGroup from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Royal Bank of Canada downgraded shares of SemGroup from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $19.00 to $11.00 in a report on Friday, August 23rd. ValuEngine raised shares of SemGroup from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. UBS Group increased their price target on shares of SemGroup from $10.25 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Wells Fargo & Co increased their price target on shares of SemGroup from $10.00 to $17.00 and gave the company a “market perform” rating in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.78.
In other SemGroup news, major shareholder Investor I. L.P. Buffalo sold 5,642,408 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $16.61, for a total value of $93,720,396.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of SemGroup by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,902,048 shares of the pipeline company’s stock worth $94,825,000 after acquiring an additional 475,190 shares during the period. Brookfield Asset Management Inc. lifted its holdings in shares of SemGroup by 1.6% during the 2nd quarter. Brookfield Asset Management Inc. now owns 7,272,329 shares of the pipeline company’s stock worth $87,268,000 after acquiring an additional 118,028 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of SemGroup by 4.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,666,972 shares of the pipeline company’s stock worth $39,311,000 after acquiring an additional 120,076 shares during the period. Bank of New York Mellon Corp lifted its holdings in SemGroup by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,764,526 shares of the pipeline company’s stock valued at $21,174,000 after purchasing an additional 82,383 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in SemGroup during the 2nd quarter valued at about $15,197,000. 87.95% of the stock is owned by institutional investors.
Shares of NYSE:SEMG traded down $0.04 during midday trading on Monday, reaching $16.34. 2,411,869 shares of the company’s stock were exchanged, compared to its average volume of 1,407,703. The company’s 50 day simple moving average is $11.04 and its two-hundred day simple moving average is $12.61. The firm has a market capitalization of $1.31 billion, a PE ratio of -86.00 and a beta of 1.47. SemGroup has a 12 month low of $8.10 and a 12 month high of $22.96. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.36 and a current ratio of 1.45.
SemGroup (NYSE:SEMG) last released its quarterly earnings data on Thursday, August 8th. The pipeline company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.25). The business had revenue of $674.94 million for the quarter, compared to the consensus estimate of $579.04 million. SemGroup had a positive return on equity of 1.13% and a negative net margin of 0.94%. SemGroup’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. On average, research analysts anticipate that SemGroup will post -1.26 earnings per share for the current year.
SemGroup Company Profile
SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. The company operates in three segments: U.S. Liquids, U.S. Gas, and Canada. The U.S. Liquids segment operates crude oil pipelines, truck transportation, storage, terminals, and marketing businesses; stores, blends, and transports refinery products and refinery feedstock through pipeline, barge, rail, truck, and ship; and operates a residual fuel oil storage terminal in the U.S.
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