Sprague Resources (NYSE:SRLP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Sprague Resources (NYSE:SRLP – Get Rating) in a research note issued on Tuesday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Separately, Zacks Investment Research cut Sprague Resources from a “hold” rating to a “sell” rating in a research report on Thursday, January 20th.

NYSE SRLP opened at $15.50 on Tuesday. The company has a market cap of $406.64 million, a price-to-earnings ratio of -4.07 and a beta of 0.61. Sprague Resources has a 52 week low of $12.31 and a 52 week high of $29.43. The business has a 50 day moving average price of $16.55 and a 200-day moving average price of $16.12.

Sprague Resources (NYSE:SRLP – Get Rating) last released its quarterly earnings data on Thursday, March 3rd. The oil and gas company reported $1.66 EPS for the quarter. The firm had revenue of $1.14 billion during the quarter. Sprague Resources had a negative return on equity of 66.70% and a negative net margin of 2.33%.

Several large investors have recently made changes to their positions in the stock. HM Payson & Co. boosted its position in shares of Sprague Resources by 66.7% during the fourth quarter. HM Payson & Co. now owns 2,500 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Sprague Resources by 1.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,703 shares of the oil and gas company’s stock worth $687,000 after purchasing an additional 700 shares during the last quarter. Captrust Financial Advisors boosted its position in Sprague Resources by 62.5% in the third quarter. Captrust Financial Advisors now owns 3,900 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Morgan Stanley boosted its position in Sprague Resources by 5.5% in the third quarter. Morgan Stanley now owns 46,280 shares of the oil and gas company’s stock worth $861,000 after purchasing an additional 2,432 shares during the last quarter. 89.33% of the stock is currently owned by institutional investors.

Sprague Resources Company Profile (Get Rating)

Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined products and natural gas in the United States and Canada. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.

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