Sprague Resources (NYSE:SRLP) Stock Rating Upgraded by TheStreet

TheStreet upgraded shares of Sprague Resources (NYSE:SRLPGet Rating) from a d+ rating to a c- rating in a research report sent to investors on Monday, TheStreetRatingsTable reports.

Separately, StockNews.com upgraded shares of Sprague Resources from a hold rating to a buy rating in a research report on Monday, August 8th.

Sprague Resources Stock Performance

SRLP opened at $19.88 on Monday. Sprague Resources has a twelve month low of $12.31 and a twelve month high of $21.98. The firm’s 50-day simple moving average is $19.29 and its 200-day simple moving average is $17.89. The firm has a market cap of $521.61 million, a price-to-earnings ratio of -5.23 and a beta of 0.41.

Sprague Resources (NYSE:SRLPGet Rating) last released its earnings results on Thursday, August 4th. The oil and gas company reported ($1.73) earnings per share (EPS) for the quarter. Sprague Resources had a negative net margin of 2.03% and a negative return on equity of 66.70%. The business had revenue of $1.28 billion for the quarter.

Sprague Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Friday, August 5th were given a $0.434 dividend. The ex-dividend date was Thursday, August 4th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 8.73%. Sprague Resources’s dividend payout ratio is -45.79%.

Insider Activity at Sprague Resources

In related news, insider David C. Glendon sold 1,132 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $25.28, for a total value of $28,616.96. Following the sale, the insider now directly owns 111,559 shares in the company, valued at approximately $2,820,211.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sprague Resources news, insider David C. Glendon sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $28.16, for a total transaction of $61,952.00. Following the sale, the insider now directly owns 109,359 shares in the company, valued at approximately $3,079,549.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David C. Glendon sold 1,132 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $25.28, for a total transaction of $28,616.96. Following the sale, the insider now owns 111,559 shares in the company, valued at $2,820,211.52. The disclosure for this sale can be found here.

Institutional Trading of Sprague Resources

Several hedge funds have recently bought and sold shares of SRLP. HM Payson & Co. raised its holdings in Sprague Resources by 66.7% during the 4th quarter. HM Payson & Co. now owns 2,500 shares of the oil and gas company’s stock worth $34,000 after buying an additional 1,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Sprague Resources by 150,480.0% during the 1st quarter. JPMorgan Chase & Co. now owns 225,870 shares of the oil and gas company’s stock worth $3,734,000 after acquiring an additional 225,720 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Sprague Resources by 6.9% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 21,700 shares of the oil and gas company’s stock worth $359,000 after acquiring an additional 1,400 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of Sprague Resources during the 1st quarter worth approximately $179,000. Finally, Charter Oak Capital Management LLC bought a new position in shares of Sprague Resources during the 2nd quarter worth approximately $90,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Sprague Resources Company Profile

(Get Rating)

As of May 28, 2021, operates as a subsidiary of Hartree Partners, LP. As of May 28, 2021, Sprague Resources LP operates as a subsidiary of Hartree Partners, LP.

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