Genie Energy Ltd. (NYSE:GNE) Shares Bought by Point72 DIFC Ltd

Point72 DIFC Ltd lifted its position in Genie Energy Ltd. (NYSE:GNE) by 11,831.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,267 shares of the oil and gas producer’s stock after acquiring an additional 2,248 shares during the quarter. Point72 DIFC Ltd’s holdings in Genie Energy were worth $33,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Genie Energy by 41.9% in the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock worth $161,000 after purchasing an additional 3,144 shares during the last quarter. BOKF NA bought a new stake in shares of Genie Energy in the 2nd quarter worth approximately $165,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Genie Energy in the 2nd quarter worth approximately $179,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Genie Energy by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock worth $202,000 after purchasing an additional 1,002 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Genie Energy by 5.8% in the 1st quarter. BNP Paribas Financial Markets now owns 23,114 shares of the oil and gas producer’s stock worth $349,000 after purchasing an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Insider Buying and Selling

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

Genie Energy Stock Performance

GNE opened at $16.06 on Monday. Genie Energy Ltd. has a one year low of $14.00 and a one year high of $30.90. The stock’s fifty day moving average is $16.48 and its 200-day moving average is $15.76. The company has a market capitalization of $435.72 million, a PE ratio of 32.12 and a beta of 0.09.

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

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Wednesday, August 14th. Genie Energy’s payout ratio is 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.