Investors Purchase Large Volume of Put Options on Genesis Energy (NYSE:GEL)

Genesis Energy, L.P. (NYSE:GEL) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 12,204 put options on the stock. This is an increase of 12,227% compared to the average daily volume of 99 put options.

Shares of NYSE GEL traded up $0.06 during trading on Thursday, reaching $20.14. The company had a trading volume of 471,682 shares, compared to its average volume of 551,279. Genesis Energy has a 52 week low of $17.55 and a 52 week high of $25.52. The stock has a market cap of $2.46 billion, a PE ratio of -251.75 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 2.19. The business’s 50 day moving average is $22.17.

Genesis Energy (NYSE:GEL) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. Genesis Energy had a net margin of 1.15% and a return on equity of 7.09%. The company had revenue of $634.80 million during the quarter, compared to the consensus estimate of $685.95 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was down 15.6% on a year-over-year basis. As a group, equities analysts expect that Genesis Energy will post 0.46 EPS for the current year.



The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.92%. The ex-dividend date was Tuesday, July 30th. Genesis Energy’s dividend payout ratio is presently -2,750.00%.

In other news, VP Ryan S. Sims purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $19.94 per share, with a total value of $59,820.00. Following the acquisition, the vice president now directly owns 11,300 shares of the company’s stock, valued at approximately $225,322. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Kristen O. Jesulaitis purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $19.97 per share, with a total value of $99,850.00. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG increased its stake in Genesis Energy by 27.6% in the 4th quarter. Deutsche Bank AG now owns 467,997 shares of the pipeline company’s stock valued at $8,643,000 after buying an additional 101,104 shares during the period. BNP Paribas Arbitrage SA acquired a new position in Genesis Energy in the 1st quarter valued at $640,000. Bank of Montreal Can increased its stake in Genesis Energy by 603.4% in the 1st quarter. Bank of Montreal Can now owns 624,015 shares of the pipeline company’s stock valued at $14,539,000 after buying an additional 535,295 shares during the period. MAI Capital Management increased its stake in Genesis Energy by 1.2% in the 1st quarter. MAI Capital Management now owns 218,543 shares of the pipeline company’s stock valued at $5,092,000 after buying an additional 2,619 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in Genesis Energy by 4.5% in the 1st quarter. First Republic Investment Management Inc. now owns 79,995 shares of the pipeline company’s stock valued at $1,864,000 after buying an additional 3,447 shares during the period. 74.18% of the stock is owned by institutional investors.

A number of equities analysts have weighed in on GEL shares. ValuEngine downgraded shares of Genesis Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Zacks Investment Research downgraded shares of Genesis Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Raymond James downgraded shares of Genesis Energy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 26th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $27.00 target price on shares of Genesis Energy in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.00.

About Genesis Energy

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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