USD Partners LP (NYSE:USDP) Sees Large Increase in Short Interest

USD Partners LP (NYSE:USDP) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 30,600 shares, an increase of 87.7% from the September 30th total of 16,300 shares. Based on an average daily trading volume, of 45,400 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.

USDP stock traded up $0.02 during trading on Thursday, reaching $9.60. 1,796 shares of the stock were exchanged, compared to its average volume of 46,503. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 4.07. The business has a 50 day moving average price of $10.01 and a 200-day moving average price of $10.72. USD Partners has a 1 year low of $8.86 and a 1 year high of $11.95. The firm has a market capitalization of $266.40 million, a price-to-earnings ratio of 12.44 and a beta of 0.46.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 15.31%. The ex-dividend date of this dividend is Friday, November 1st. USD Partners’s dividend payout ratio (DPR) is presently 190.91%.

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in USD Partners by 56,200.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,378 shares of the transportation company’s stock worth $38,000 after acquiring an additional 3,372 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of USD Partners by 33.3% during the 2nd quarter. Wells Fargo & Company MN now owns 340,622 shares of the transportation company’s stock valued at $3,850,000 after buying an additional 85,185 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of USD Partners by 138.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 66,669 shares of the transportation company’s stock valued at $753,000 after buying an additional 38,756 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of USD Partners by 49.3% during the 2nd quarter. Renaissance Technologies LLC now owns 91,800 shares of the transportation company’s stock valued at $1,036,000 after buying an additional 30,300 shares in the last quarter. Finally, Cohen & Steers Inc. purchased a new stake in shares of USD Partners during the 2nd quarter valued at about $964,000. 20.57% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of USD Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of USD Partners from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

USD Partners Company Profile

USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through two segments, Terminalling Services and Fleet Services. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and terminals in San Antonio, Texas and West Colton, California, which are unit train-capable destination terminals that transload ethanol received by rail from producers onto trucks.

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