Texas Capital Bancshares Inc TX Has $2.86 Million Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Texas Capital Bancshares Inc TX decreased its position in Genesis Energy, L.P. (NYSE:GEL) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the pipeline company’s stock after selling 100,000 shares during the period. Genesis Energy comprises approximately 1.2% of Texas Capital Bancshares Inc TX’s holdings, making the stock its 13th largest holding. Texas Capital Bancshares Inc TX’s holdings in Genesis Energy were worth $2,862,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Genesis Energy during the 1st quarter valued at about $55,000. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Genesis Energy during the first quarter valued at $111,000. Pettinga Financial Advisors LLC increased its position in shares of Genesis Energy by 9.9% during the 1st 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 in the last quarter. Van ECK Associates Corp lifted 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 purchasing an additional 3,073 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position 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 valued at $372,000 after buying an additional 1,550 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

Shares of NYSE:GEL opened at $13.08 on Friday. The business has a fifty day moving average of $13.41 and a 200-day moving average of $12.93. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09. Genesis Energy, L.P. has a twelve month low of $9.77 and a twelve month high of $15.17. The firm has a market cap of $1.60 billion, a PE ratio of 38.47 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data 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 period in the previous year, the firm earned $0.22 EPS.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.59%. Genesis Energy’s payout ratio is currently 176.47%.

Insider Buying and Selling

In other Genesis Energy news, VP Garland G. Gaspard acquired 2,261 shares of Genesis Energy stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the purchase, the vice president now owns 19,525 shares in the company, valued at $259,096.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

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

Genesis Energy 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.