Sprague Resources LP (SRLP) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Sprague Resources LP (NYSE:SRLP) from a sell rating to a hold rating in a report issued on Friday.

Separately, Zacks Investment Research upgraded Sprague Resources from a sell rating to a hold rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $33.00.

Sprague Resources (SRLP) opened at 25.00 on Friday. The company has a market capitalization of $563.58 million, a PE ratio of 12.46 and a beta of 1.38. Sprague Resources has a 12-month low of $22.50 and a 12-month high of $30.75. The company has a 50 day moving average price of $25.36 and a 200-day moving average price of $26.65.

Sprague Resources (NYSE:SRLP) last released its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.40). The business had revenue of $513.63 million during 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, analysts anticipate that Sprague Resources will post $4.00 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Sprague Resources by 11.1% during the first quarter. Bank of New York Mellon Corp now owns 37,419 shares of the oil and gas company’s stock worth $1,014,000 after acquiring an additional 3,736 shares during the last quarter. UBS Group AG raised its position in shares of Sprague Resources by 79.3% during the first quarter. UBS Group AG now owns 19,273 shares of the oil and gas company’s stock worth $522,000 after acquiring an additional 8,523 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Sprague Resources by 11.3% during the first quarter. Renaissance Technologies LLC now owns 48,927 shares of the oil and gas company’s stock worth $1,326,000 after acquiring an additional 4,963 shares during the last quarter. Creative Planning raised its position in shares of Sprague Resources by 81.8% during the second quarter. Creative Planning now owns 4,570 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 2,056 shares during the last quarter.

Separately, Zacks Investment Research upgraded Sprague Resources from a sell rating to a hold rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $33.00.

Sprague Resources (SRLP) opened at 25.00 on Friday. The company has a market capitalization of $563.58 million, a PE ratio of 12.46 and a beta of 1.38. Sprague Resources has a 12-month low of $22.50 and a 12-month high of $30.75. The company has a 50 day moving average price of $25.36 and a 200-day moving average price of $26.65.

Sprague Resources (NYSE:SRLP) last released its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.40). The business had revenue of $513.63 million during 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, analysts anticipate that Sprague Resources will post $4.00 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://ledgergazette.com/2017/10/09/sprague-resources-lp-srlp-lifted-to-hold-at-bidaskclub.html.

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Sprague Resources by 11.1% during the first quarter. Bank of New York Mellon Corp now owns 37,419 shares of the oil and gas company’s stock worth $1,014,000 after acquiring an additional 3,736 shares during the last quarter. UBS Group AG raised its position in shares of Sprague Resources by 79.3% during the first quarter. UBS Group AG now owns 19,273 shares of the oil and gas company’s stock worth $522,000 after acquiring an additional 8,523 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Sprague Resources by 11.3% during the first quarter. Renaissance Technologies LLC now owns 48,927 shares of the oil and gas company’s stock worth $1,326,000 after acquiring an additional 4,963 shares during the last quarter. Creative Planning raised its position in shares of Sprague Resources by 81.8% during the second quarter. Creative Planning now owns 4,570 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 2,056 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Sprague Resources during the second quarter worth about $9,192,000. Hedge funds and other institutional investors own 24.63% of the company’s stock.

About Sprague Resources

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