Russell Investments Group Ltd. Increases Stock Position in Sprague Resources LP (NYSE:SRLP)

Russell Investments Group Ltd. raised its stake in shares of Sprague Resources LP (NYSE:SRLP) by 8.6% during the second quarter, HoldingsChannel reports. The fund owned 27,690 shares of the oil and gas company’s stock after acquiring an additional 2,190 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sprague Resources were worth $491,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Sprague Resources by 4.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 15,494 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 600 shares in the last quarter. Advantage Investment Management LLC acquired a new position in shares of Sprague Resources in the second quarter worth about $267,000. Optimum Investment Advisors boosted its holdings in shares of Sprague Resources by 33.3% in the second quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas company’s stock worth $71,000 after buying an additional 1,000 shares during the period. Finally, Advisor Group Inc. acquired a new position in shares of Sprague Resources in the second quarter worth about $33,000. 16.38% of the stock is currently owned by institutional investors.

Several brokerages have commented on SRLP. ValuEngine cut shares of Sprague Resources from a “hold” rating to a “sell” rating in a report on Friday, June 7th. Zacks Investment Research cut shares of Sprague Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 10th.



SRLP traded down $0.14 during midday trading on Wednesday, hitting $17.36. 71 shares of the company’s stock traded hands, compared to its average volume of 19,488. Sprague Resources LP has a one year low of $13.76 and a one year high of $27.55. The company has a market cap of $394.98 million, a PE ratio of 5.47 and a beta of 1.48. The company has a debt-to-equity ratio of 4.50, a current ratio of 2.03 and a quick ratio of 1.37. The stock’s fifty day simple moving average is $16.64 and its 200-day simple moving average is $17.69.

Sprague Resources (NYSE:SRLP) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.14. Sprague Resources had a net margin of 1.19% and a return on equity of 32.23%. The company had revenue of $662.02 million for the quarter, compared to analyst estimates of $656.16 million. On average, research analysts expect that Sprague Resources LP will post 1.31 EPS for the current year.

About Sprague Resources

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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Institutional Ownership by Quarter for Sprague Resources (NYSE:SRLP)

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