Genesis Energy (NYSE:GEL) Upgraded to Overweight at Capital One Financial

Genesis Energy (NYSE:GEL) was upgraded by research analysts at Capital One Financial from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, MarketBeat Ratings reports.

Several other equities research analysts have also recently issued reports on the company. Royal Bank of Canada boosted their price target on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com lowered Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

Genesis Energy Stock Down 2.2 %

GEL stock traded down $0.25 during trading hours on Friday, reaching $11.06. 825,632 shares of the stock were exchanged, compared to its average volume of 369,699. Genesis Energy has a 12 month low of $10.01 and a 12 month high of $15.17. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. The firm’s 50-day moving average is $13.24 and its 200-day moving average is $13.27. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -84.92 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. The firm had revenue of $714.30 million for the quarter. During the same quarter in the previous year, the company earned $0.29 EPS.

Insiders Place Their Bets

In other news, VP Garland G. Gaspard bought 2,261 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the acquisition, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genesis Energy

A number of hedge funds have recently bought and sold shares of GEL. Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in shares of Genesis Energy in the first quarter valued at approximately $111,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Genesis Energy in the 3rd quarter valued at $139,000. Van ECK Associates Corp raised its position in shares of Genesis Energy by 17.4% in the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after acquiring an additional 3,073 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Genesis Energy by 4.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock worth $372,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Axiom Advisory LLC boosted its stake in Genesis Energy by 2.8% in the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.