Sprague Resources (NYSE:SRLP) Stock Price Passes Below 200-Day Moving Average of $18.87

Sprague Resources LP (NYSE:SRLP) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.87 and traded as low as $16.70. Sprague Resources shares last traded at $17.02, with a volume of 90,580 shares changing hands.

A number of research firms have recently weighed in on SRLP. Zacks Investment Research raised shares of Sprague Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 7th. TheStreet lowered shares of Sprague Resources from a “c” rating to a “d+” rating in a research report on Friday, November 5th.

The firm’s 50-day moving average price is $14.65 and its 200-day moving average price is $18.87. The company has a market cap of $446.52 million, a price-to-earnings ratio of -4.16 and a beta of 0.85. The company has a debt-to-equity ratio of 12.50, a current ratio of 0.83 and a quick ratio of 0.56.

Sprague Resources (NYSE:SRLP) last announced its earnings results on Thursday, November 4th. The oil and gas company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.61). Sprague Resources had a negative net margin of 3.68% and a positive return on equity of 102.39%. The firm had revenue of $665.47 million during the quarter, compared to analysts’ expectations of $564.29 million. On average, sell-side analysts anticipate that Sprague Resources LP will post -3.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 10th. Shareholders of record on Friday, November 5th were paid a dividend of $0.434 per share. The ex-dividend date was Thursday, November 4th. This represents a $1.74 annualized dividend and a yield of 10.20%. Sprague Resources’s payout ratio is -42.54%.

In related news, CFO David C. Long acquired 9,000 shares of the stock in a transaction dated Tuesday, November 9th. The shares were acquired at an average price of $16.25 per share, for a total transaction of $146,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David C. Long purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, November 16th. The shares were acquired at an average price of $16.25 per share, for a total transaction of $81,250.00. The disclosure for this purchase can be found here.

Several institutional investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC bought a new stake in shares of Sprague Resources in the 2nd quarter valued at about $223,000. LPL Financial LLC boosted its position in Sprague Resources by 7.4% during the 2nd quarter. LPL Financial LLC now owns 13,344 shares of the oil and gas company’s stock worth $338,000 after acquiring an additional 914 shares during the last quarter. United Capital Financial Advisers LLC acquired a new position in Sprague Resources during the 2nd quarter worth approximately $379,000. Morgan Stanley raised its stake in shares of Sprague Resources by 295.7% during the 2nd quarter. Morgan Stanley now owns 43,848 shares of the oil and gas company’s stock worth $1,111,000 after purchasing an additional 32,766 shares in the last quarter. Finally, Beaton Management Co. Inc. raised its stake in shares of Sprague Resources by 7.2% during the 3rd quarter. Beaton Management Co. Inc. now owns 22,400 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 1,500 shares in the last quarter. 76.57% of the stock is owned by institutional investors and hedge funds.

Sprague Resources Company Profile (NYSE:SRLP)

Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas. It operates its business through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment offers refined products, such as heating oil, diesel, residual fuel oil, kerosene, jet fuel and gasoline.

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