Sprague Resources (NYSE:SRLP) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Sprague Resources (NYSE:SRLP) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Separately, Zacks Investment Research downgraded shares of Sprague Resources from a buy rating to a hold rating in a research report on Saturday, August 10th.

Sprague Resources stock remained flat at $$17.50 during mid-day trading on Wednesday. 18,510 shares of the company’s stock traded hands, compared to its average volume of 46,795. The company has a debt-to-equity ratio of 4.50, a quick ratio of 1.37 and a current ratio of 2.03. The firm has a market capitalization of $397.83 million, a PE ratio of 5.54 and a beta of 1.49. Sprague Resources has a 52-week low of $13.76 and a 52-week high of $27.45. The business has a fifty day moving average price of $16.74 and a 200 day moving average price of $17.80.

Sprague Resources (NYSE:SRLP) last posted its earnings results on Wednesday, August 7th. The oil and gas company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.14. The firm had revenue of $662.02 million for the quarter, compared to the consensus estimate of $656.16 million. Sprague Resources had a net margin of 1.19% and a return on equity of 32.23%. Analysts expect that Sprague Resources will post 1.31 EPS for the current fiscal year.

Several large investors have recently modified their holdings of SRLP. Invesco Ltd. acquired a new stake in Sprague Resources during the 2nd quarter worth $29,048,000. Doheny Asset Management CA grew its holdings in Sprague Resources by 28.6% during the 2nd quarter. Doheny Asset Management CA now owns 82,300 shares of the oil and gas company’s stock worth $1,459,000 after acquiring an additional 18,300 shares during the period. Advantage Investment Management LLC acquired a new stake in Sprague Resources during the 2nd quarter worth $267,000. Russell Investments Group Ltd. grew its holdings in Sprague Resources by 8.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 27,690 shares of the oil and gas company’s stock worth $491,000 after acquiring an additional 2,190 shares during the period. Finally, Beaton Management Co. Inc. grew its holdings in Sprague Resources by 11.5% during the 2nd quarter. Beaton Management Co. Inc. now owns 20,400 shares of the oil and gas company’s stock worth $362,000 after acquiring an additional 2,100 shares during the period. 16.38% of the stock is currently owned by institutional investors.

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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