Genesis Energy Target of Unusually Large Options Trading (NYSE:GEL)
Genesis Energy, L.P. (NYSE:GEL) saw unusually large options trading activity on Monday. Stock investors purchased 3,721 call options on the stock. This represents an increase of approximately 2,616% compared to the average daily volume of 137 call options.
Genesis Energy stock opened at $23.63 on Tuesday. Genesis Energy has a 1-year low of $17.55 and a 1-year high of $25.52. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -295.38 and a beta of 1.26. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $22.44.
Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, May 2nd. The pipeline company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19). Genesis Energy had a net margin of 0.07% and a return on equity of 5.10%. The business had revenue of $620.00 million during the quarter, compared to analysts’ expectations of $719.55 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts anticipate that Genesis Energy will post 0.52 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on GEL. Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Friday, July 19th. ValuEngine upgraded shares of YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Raymond James began coverage on shares of Planet Fitness in a research note on Wednesday, June 26th. They set an “outperform” rating and a $80.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Genesis Energy presently has a consensus rating of “Hold” and a consensus target price of $27.40.
In related news, Director Kenneth M. Jastrow II purchased 50,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $21.54 per share, for a total transaction of $1,077,000.00. Following the purchase, the director now directly owns 70,129 shares in the company, valued at approximately $1,510,578.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward T. Flynn purchased 15,700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $21.73 per share, with a total value of $341,161.00. Following the purchase, the insider now owns 43,916 shares in the company, valued at $954,294.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 69,700 shares of company stock valued at $1,502,161. 0.72% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Genesis Energy by 6.1% during the fourth quarter. BlackRock Inc. now owns 1,241,420 shares of the pipeline company’s stock worth $22,929,000 after purchasing an additional 71,063 shares during the last quarter. Deutsche Bank AG lifted its stake in Genesis Energy by 27.6% during the fourth quarter. Deutsche Bank AG now owns 467,997 shares of the pipeline company’s stock worth $8,643,000 after purchasing an additional 101,104 shares during the last quarter. Arlington Partners LLC lifted its stake in Genesis Energy by 304.8% during the first quarter. Arlington Partners LLC now owns 8,500 shares of the pipeline company’s stock worth $198,000 after purchasing an additional 6,400 shares during the last quarter. BNP Paribas Arbitrage SA bought a new stake in Genesis Energy during the first quarter worth $640,000. Finally, Bank of Montreal Can lifted its stake in Genesis Energy by 603.4% during the first quarter. Bank of Montreal Can now owns 624,015 shares of the pipeline company’s stock worth $14,539,000 after purchasing an additional 535,295 shares during the last quarter. Institutional investors and hedge funds own 74.32% of the company’s stock.
About Genesis Energy
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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