Sprague Resources (SRLP) Reaches New 12-Month High and Low at $22.70

Sprague Resources (NYSE:SRLP) hit a new 52-week high and low on Thursday . The stock traded as low as $22.70 and last traded at $22.80, with a volume of 400 shares traded. The stock had previously closed at $23.00.

Several equities research analysts recently weighed in on SRLP shares. ValuEngine upgraded shares of Sprague Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. JPMorgan Chase & Co. cut shares of Sprague Resources from a “neutral” rating to an “underweight” rating and set a $25.00 price objective on the stock. in a research report on Friday, April 6th. B. Riley set a $29.00 price objective on shares of Sprague Resources and gave the company a “buy” rating in a research report on Tuesday, March 20th. Finally, Zacks Investment Research upgraded shares of Sprague Resources from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.00.

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 1.32. The stock has a market cap of $517.59 million, a price-to-earnings ratio of 20.18 and a beta of 1.38.

Sprague Resources (NYSE:SRLP) last posted its quarterly earnings data on Tuesday, May 8th. The oil and gas company reported $3.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $1.67. Sprague Resources had a net margin of 1.14% and a return on equity of 22.33%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.14 billion. equities analysts expect that Sprague Resources will post 2.82 earnings per share for the current fiscal year.

The company also recently disclosed a dividend, which was paid on Friday, May 18th. Shareholders of record on Monday, May 14th were given a dividend of $0.6525 per share. This is a boost from Sprague Resources’s previous dividend of $0.46. The ex-dividend date of this dividend was Friday, May 11th. Sprague Resources’s payout ratio is 230.97%.

In other Sprague Resources news, Director Ben J. Hennelly sold 1,640 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $23.15, for a total transaction of $37,966.00. Following the transaction, the director now owns 1,640 shares in the company, valued at $37,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional investors and hedge funds have recently modified their holdings of the company. First Republic Investment Management Inc. boosted its stake in shares of Sprague Resources by 48.6% during the fourth quarter. First Republic Investment Management Inc. now owns 12,475 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 4,080 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Sprague Resources by 0.4% during the fourth quarter. OppenheimerFunds Inc. now owns 1,656,956 shares of the oil and gas company’s stock valued at $40,098,000 after purchasing an additional 6,358 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in shares of Sprague Resources by 0.3% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 829,054 shares of the oil and gas company’s stock valued at $20,061,000 after purchasing an additional 2,500 shares during the period. Taylor Wealth Management Partners boosted its stake in shares of Sprague Resources by 249.5% during the fourth quarter. Taylor Wealth Management Partners now owns 13,490 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 9,630 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Sprague Resources by 35.5% during the third quarter. Wells Fargo & Company MN now owns 33,557 shares of the oil and gas company’s stock valued at $825,000 after purchasing an additional 8,798 shares during the period. 22.38% of the stock is owned by hedge funds and other institutional investors.

Sprague Resources Company Profile

Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.

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