Genesis Energy, L.P. (NYSE:GEL) Sees Large Growth in Short Interest

Genesis Energy, L.P. (NYSE:GEL) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 3,220,000 shares, a growth of 15.0% from the July 31st total of 2,800,000 shares. Based on an average daily trading volume, of 365,700 shares, the days-to-cover ratio is currently 8.8 days. Approximately 3.1% of the shares of the stock are short sold.

Genesis Energy Stock Up 0.1 %

NYSE GEL opened at $13.86 on Friday. The stock has a fifty day moving average of $13.89 and a 200-day moving average of $12.68. The stock has a market capitalization of $1.70 billion, a P/E ratio of 40.76 and a beta of 2.11. Genesis Energy has a 52 week low of $9.71 and a 52 week high of $15.17. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.90 and a current ratio of 1.05.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Genesis Energy had a return on equity of 8.12% and a net margin of 2.34%. The company had revenue of $756.26 million for the quarter. During the same period in the previous year, the business posted $0.22 earnings per share.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.33%. Genesis Energy’s dividend payout ratio (DPR) is presently 176.47%.

Insider Buying and Selling at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard acquired 2,261 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the transaction, the vice president now owns 19,525 shares in the company, valued at approximately $259,096.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Genesis Energy

Institutional investors have recently made changes to their positions in the stock. Mather Group LLC. acquired a new stake in shares of Genesis Energy during the first quarter worth $55,000. Paragon Associates & Paragon Associates II Joint Venture acquired a new stake in shares of Genesis Energy during the first quarter worth $111,000. Pettinga Financial Advisors LLC grew its stake in shares of Genesis Energy by 9.9% during the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 2,000 shares during the period. Van ECK Associates Corp grew its stake in shares of Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 3,073 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Genesis Energy by 4.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock worth $372,000 after acquiring an additional 1,550 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

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.