Genesis Energy, L.P. (NYSE:GEL) Director Kenneth M. Jastrow II acquired 15,000 shares of Genesis Energy stock in a transaction on Tuesday, December 19th. The stock was purchased at an average price of $22.32 per share, with a total value of $334,800.00. Following the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $1,116,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Genesis Energy, L.P. (GEL) opened at $24.27 on Thursday. Genesis Energy, L.P. has a 12 month low of $20.43 and a 12 month high of $37.88. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $2,960.00, a P/E ratio of 34.67 and a beta of 1.15.
A number of research analysts recently weighed in on GEL shares. Royal Bank of Canada reissued a “hold” rating and issued a $34.00 target price on shares of Genesis Energy in a report on Wednesday, September 27th. Barclays raised Genesis Energy from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $31.00 to $27.00 in a research note on Friday, October 13th. Janney Montgomery Scott set a $30.00 price objective on Genesis Energy and gave the company a “buy” rating in a research note on Friday, October 13th. Robert W. Baird set a $29.00 price objective on Genesis Energy and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, UBS Group decreased their price objective on Genesis Energy from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.55.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of Genesis Energy by 13.0% in the 2nd quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after purchasing an additional 570 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Genesis Energy by 22.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 101,319 shares of the pipeline company’s stock worth $3,215,000 after purchasing an additional 18,662 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Genesis Energy by 25.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,363 shares of the pipeline company’s stock worth $266,000 after purchasing an additional 1,720 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Genesis Energy by 2.1% in the 2nd quarter. Blair William & Co. IL now owns 95,478 shares of the pipeline company’s stock worth $3,030,000 after purchasing an additional 2,007 shares during the last quarter. Finally, RFG Advisory Group LLC bought a new stake in Genesis Energy during the 2nd quarter valued at $451,000. Institutional investors own 73.46% of the company’s stock.
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About Genesis Energy
Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.
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