Sprague Resources LP (NYSE:SRLP) Insider David C. Glendon Sells 2,700 Shares

Sprague Resources LP (NYSE:SRLPGet Rating) insider David C. Glendon sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $24.14, for a total value of $65,178.00. Following the transaction, the insider now owns 117,859 shares of the company’s stock, valued at approximately $2,845,116.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Sprague Resources Price Performance

NYSE SRLP opened at $19.85 on Tuesday. The stock’s 50 day simple moving average is $19.26 and its 200 day simple moving average is $17.86. Sprague Resources LP has a one year low of $12.31 and a one year high of $21.98. The firm has a market cap of $520.82 million, a PE ratio of -5.22 and a beta of 0.41.

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

Sprague Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 10th. Stockholders of record on Friday, August 5th were given a dividend of $0.434 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 8.75%. Sprague Resources’s payout ratio is currently -45.79%.

Institutional Trading of Sprague Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRLP. HM Payson & Co. boosted its stake in shares of Sprague Resources by 66.7% in the 4th quarter. HM Payson & Co. now owns 2,500 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Charter Oak Capital Management LLC bought a new stake in shares of Sprague Resources during the 2nd quarter valued at $90,000. Gabelli Funds LLC acquired a new position in shares of Sprague Resources in the 1st quarter valued at $179,000. Cowen AND Company LLC bought a new position in shares of Sprague Resources in the 2nd quarter worth $308,000. Finally, Kayne Anderson Capital Advisors LP grew its stake in shares of Sprague Resources by 6.9% during the first quarter. Kayne Anderson Capital Advisors LP now owns 21,700 shares of the oil and gas company’s stock worth $359,000 after purchasing an additional 1,400 shares during the period. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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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