Genie Energy Ltd. (NYSE:GNE) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its position in Genie Energy Ltd. (NYSE:GNE) by 102.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,309 shares of the oil and gas producer’s stock after buying an additional 38,632 shares during the quarter. AQR Capital Management LLC owned about 0.28% of Genie Energy worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNE. Point72 DIFC Ltd raised its holdings in shares of Genie Energy by 11,831.6% in the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 2,248 shares during the period. SG Americas Securities LLC raised its holdings in Genie Energy by 41.9% in the first quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after buying an additional 3,144 shares during the period. BOKF NA acquired a new position in Genie Energy during the second quarter valued at approximately $165,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Genie Energy during the second quarter worth approximately $169,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Genie Energy in the second quarter worth $179,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Genie Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Insider Buying and Selling at Genie Energy

In other news, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.19, for a total transaction of $63,173.25. Following the sale, the director now directly owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Avi Goldin sold 2,300 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the sale, the chief financial officer now owns 134,999 shares of the company’s stock, valued at approximately $2,320,632.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James A. Courter sold 3,675 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the sale, the director now owns 304,411 shares in the company, valued at $5,232,825.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by corporate insiders.

Genie Energy Price Performance

Shares of NYSE GNE opened at $15.98 on Friday. Genie Energy Ltd. has a 1-year low of $14.00 and a 1-year high of $30.90. The company has a market capitalization of $433.55 million, a price-to-earnings ratio of 31.96 and a beta of 0.08. The business has a 50-day moving average of $16.39 and a 200-day moving average of $15.77.

Genie Energy (NYSE:GNE) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 1.75% and a return on equity of 23.30%. The company had revenue of $90.70 million during the quarter.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 14th were issued a $0.075 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. Genie Energy’s dividend payout ratio is currently 60.00%.

About Genie Energy

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.