Lucas Capital Management decreased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,285 shares of the company’s stock after selling 545 shares during the period. Lucas Capital Management’s holdings in Genesis Energy, L.P. were worth $433,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in GEL. Solaris Asset Management LLC increased its position in Genesis Energy, L.P. by 4.2% in the second quarter. Solaris Asset Management LLC now owns 3,075 shares of the company’s stock worth $118,000 after buying an additional 125 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in Genesis Energy, L.P. during the first quarter worth about $235,000. Bank of Montreal Can bought a new position in Genesis Energy, L.P. during the second quarter worth about $249,000. Pointe Capital Management LLC bought a new position in Genesis Energy, L.P. during the second quarter worth about $513,000. Finally, Mariner Wealth Advisors LLC bought a new position in Genesis Energy, L.P. during the first quarter worth about $528,000.
Genesis Energy, L.P. (NYSE:GEL) traded down 1.32% during midday trading on Wednesday, hitting $36.63. 950,557 shares of the stock were exchanged. The company has a market cap of $4.32 billion, a PE ratio of 8.91 and a beta of 1.09. The firm’s 50 day moving average price is $35.87 and its 200 day moving average price is $35.57. Genesis Energy, L.P. has a 12 month low of $19.55 and a 12 month high of $44.32.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.37 by $0.15. The firm had revenue of $446 million for the quarter, compared to analyst estimates of $585.96 million. During the same period in the prior year, the company posted $0.12 EPS. The business’s quarterly revenue was down 32.0% on a year-over-year basis. On average, equities research analysts forecast that Genesis Energy, L.P. will post $1.30 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on GEL shares. Zacks Investment Research raised shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Tuesday, July 5th. Citigroup Inc. raised shares of Genesis Energy, L.P. from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $48.00 to $46.00 in a research note on Friday, July 1st. TheStreet raised shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 14th. Janney Montgomery Scott reissued a “buy” rating and issued a $44.00 price target (up from $32.00) on shares of Genesis Energy, L.P. in a research note on Thursday, June 16th. Finally, Wunderlich cut their price objective on shares of Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Genesis Energy, L.P. presently has an average rating of “Buy” and a consensus price target of $41.25.
Genesis Energy, L.P. Company Profile
Genesis Energy, L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through five segments: Offshore Pipeline Transportation, Onshore 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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