News coverage about Sprague Resources (NYSE:SRLP) has trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Sprague Resources earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned news coverage about the oil and gas company an impact score of 46.7926478878274 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
A number of brokerages have recently commented on SRLP. Zacks Investment Research raised Sprague Resources from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 12th. ValuEngine cut Sprague Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 15th. B. Riley reaffirmed a “buy” rating and set a $29.00 price target on shares of Sprague Resources in a research report on Wednesday, March 14th. Finally, JPMorgan Chase & Co. cut Sprague Resources from a “neutral” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research report on Friday, April 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.00.
Shares of NYSE:SRLP traded down $0.20 during midday trading on Friday, reaching $22.60. 27,105 shares of the company traded hands, compared to its average volume of 28,469. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 1.32. Sprague Resources has a 12 month low of $22.40 and a 12 month high of $30.75. The firm has a market cap of $509.70 million, a price-to-earnings ratio of 20.00 and a beta of 1.38.
The business also recently disclosed a dividend, which was paid on Friday, May 18th. Investors of record on Monday, May 14th were paid a dividend of $0.6525 per share. This is a positive change from Sprague Resources’s previous dividend of $0.46. The ex-dividend date of this dividend was Friday, May 11th. Sprague Resources’s payout ratio is presently 230.97%.
In related news, Director Ben J. Hennelly sold 1,640 shares of the business’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $23.15, for a total transaction of $37,966.00. Following the sale, the director now directly owns 1,640 shares in the company, valued at approximately $37,966. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Sprague Resources Company Profile
Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. 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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