USD Partners LP (NYSE:USDP) Short Interest Down 27.5% in April

Posted by on May 2nd, 2022

USD Partners LP (NYSE:USDP – Get Rating) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 71,800 shares, a decline of 27.5% from the March 31st total of 99,100 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 74,700 shares, the days-to-cover ratio is currently 1.0 days.

A number of analysts have recently commented on the stock. TheStreet raised shares of USD Partners from a “c” rating to a “b-” rating in a research report on Thursday, March 3rd. StockNews.com started coverage on shares of USD Partners in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Zacks Investment Research upgraded shares of USD Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 7th.

USDP traded up $0.19 on Monday, hitting $6.72. 250 shares of the stock were exchanged, compared to its average volume of 74,988. USD Partners has a 12 month low of $4.75 and a 12 month high of $8.27. The business has a 50-day moving average of $5.92 and a two-hundred day moving average of $5.79. The company has a debt-to-equity ratio of 8.70, a current ratio of 0.96 and a quick ratio of 0.85. The firm has a market capitalization of $188.70 million, a price-to-earnings ratio of 8.75, a PEG ratio of 1.92 and a beta of 1.20.

USD Partners (NYSE:USDP – Get Rating) last posted its quarterly earnings data on Wednesday, March 2nd. The transportation company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.06). USD Partners had a return on equity of 133.13% and a net margin of 17.57%. The firm had revenue of $28.21 million for the quarter, compared to the consensus estimate of $30.62 million. Equities research analysts expect that USD Partners will post 0.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Wednesday, May 4th will be issued a $0.123 dividend. The ex-dividend date is Tuesday, May 3rd. This represents a $0.49 dividend on an annualized basis and a dividend yield of 7.32%. This is a boost from USD Partners’s previous quarterly dividend of $0.12. USD Partners’s dividend payout ratio is 63.16%.

Several hedge funds have recently bought and sold shares of the company. Evergreen Capital Management LLC raised its holdings in USD Partners by 28.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 794,198 shares of the transportation company’s stock valued at $4,956,000 after buying an additional 175,275 shares during the last quarter. HighTower Advisors LLC acquired a new stake in USD Partners during the 3rd quarter valued at approximately $195,000. Citigroup Inc. increased its position in USD Partners by 58.2% during the 3rd quarter. Citigroup Inc. now owns 33,864 shares of the transportation company’s stock valued at $211,000 after purchasing an additional 12,453 shares during the period. B. Riley Wealth Management Inc. acquired a new stake in USD Partners during the 3rd quarter valued at approximately $341,000. Finally, Wells Fargo & Company MN grew its position in shares of USD Partners by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 897,094 shares of the transportation company’s stock worth $4,753,000 after buying an additional 4,284 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

USD Partners Company Profile (Get Rating)

USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through two segments, Terminalling Services and Fleet Services. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and West Colton Terminal, an unit train-capable destination terminals that trans load approximately 13,000 barrels per day ethanol and renewable diesel received by rail from producers onto trucks.

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