Oppenheimer Asset Management Inc. Has $491,000 Stock Position in Genesis Energy, L.P. (NYSE:GEL)

Oppenheimer Asset Management Inc. raised its holdings in Genesis Energy, L.P. (NYSE:GEL) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,322 shares of the pipeline company’s stock after buying an additional 887 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Genesis Energy were worth $491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GEL. Mather Group LLC. acquired a new position in shares of Genesis Energy during the 1st quarter valued at $55,000. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Genesis Energy during the 1st quarter worth about $111,000. Van ECK Associates Corp increased its position in Genesis Energy by 17.4% in 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 in the last quarter. Pettinga Financial Advisors LLC raised its stake in 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 buying an additional 2,000 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in Genesis Energy in the second quarter worth approximately $1,073,000. 66.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Garland G. Gaspard purchased 2,261 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the acquisition, the vice president now owns 19,525 shares in the company, valued at $259,096.75. The acquisition 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 corporate insiders.

Genesis Energy Stock Down 1.5 %

Shares of NYSE GEL opened at $12.90 on Friday. 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 company has a 50-day moving average price of $13.55 and a 200-day moving average price of $12.87. The stock has a market capitalization of $1.58 billion, a P/E ratio of 37.94 and a beta of 2.10. Genesis Energy, L.P. has a 1 year low of $9.77 and a 1 year high of $15.17.

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

Genesis Energy Dividend Announcement

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

Analysts Set New Price Targets

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

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.