Westwood Holdings Group Inc. Cuts Holdings in Genesis Energy, L.P. (NYSE:GEL)

Westwood Holdings Group Inc. decreased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 17.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,329,982 shares of the pipeline company’s stock after selling 695,329 shares during the period. Westwood Holdings Group Inc. owned approximately 2.72% of Genesis Energy worth $47,652,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GEL. Oppenheimer Asset Management Inc. boosted its position in Genesis Energy by 2.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after buying an additional 887 shares during the period. Custom Index Systems LLC boosted its stake in shares of Genesis Energy by 0.9% during the second quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock valued at $1,682,000 after purchasing an additional 1,041 shares during the period. Pettinga Financial Advisors LLC grew its holdings in shares of Genesis Energy by 9.9% in 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 last quarter. Maryland State Retirement & Pension System increased its stake in shares of Genesis Energy by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock worth $1,117,000 after buying an additional 2,625 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Genesis Energy by 17.4% during the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after buying an additional 3,073 shares during the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Garland G. Gaspard bought 2,261 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the purchase, the vice president now directly owns 19,525 shares in the company, valued at approximately $259,096.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Trading Down 1.5 %

GEL opened at $12.90 on Friday. Genesis Energy, L.P. has a one year low of $9.77 and a one year 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 business has a 50 day simple moving average of $13.55 and a two-hundred day simple moving average of $12.87. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 37.94 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The company had revenue of $756.26 million during the quarter. During the same quarter in the prior year, the business posted $0.22 EPS.

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Wednesday, July 31st. Genesis Energy’s payout ratio is currently 176.47%.

Genesis Energy Company Profile

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.