Short Interest in Sprague Resources LP (NYSE:SRLP) Grows By 73.7%

Sprague Resources LP (NYSE:SRLPGet Rating) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 9,900 shares, an increase of 73.7% from the April 30th total of 5,700 shares. Based on an average daily volume of 17,200 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.2% of the company’s shares are short sold.

Shares of NYSE:SRLP traded down $0.18 during midday trading on Friday, reaching $15.92. The company’s stock had a trading volume of 10,447 shares, compared to its average volume of 34,792. The firm has a 50 day moving average of $16.29 and a 200-day moving average of $15.92. The firm has a market capitalization of $417.66 million, a P/E ratio of -4.18 and a beta of 0.61. Sprague Resources has a 12-month low of $12.31 and a 12-month high of $29.43.

Sprague Resources (NYSE:SRLPGet Rating) last released its earnings results on Thursday, March 3rd. The oil and gas company reported $1.66 earnings per share for the quarter. The firm had revenue of $1.14 billion for the quarter. Sprague Resources had a negative net margin of 2.33% and a negative return on equity of 66.70%.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 11th. Investors of record on Friday, May 6th were paid a $0.434 dividend. This is a boost from Sprague Resources’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $1.74 dividend on an annualized basis and a yield of 10.90%. Sprague Resources’s payout ratio is presently -45.67%.

A number of institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC bought a new position in Sprague Resources during the 1st quarter valued at about $179,000. Kayne Anderson Capital Advisors LP lifted its stake in Sprague Resources by 6.9% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 21,700 shares of the oil and gas company’s stock valued at $359,000 after acquiring an additional 1,400 shares during the period. JPMorgan Chase & Co. lifted its stake in Sprague Resources by 150,480.0% during the 1st quarter. JPMorgan Chase & Co. now owns 225,870 shares of the oil and gas company’s stock valued at $3,734,000 after acquiring an additional 225,720 shares during the period. HM Payson & Co. lifted its stake in Sprague Resources by 66.7% during the 4th quarter. HM Payson & Co. now owns 2,500 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in Sprague Resources by 1.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,703 shares of the oil and gas company’s stock valued at $687,000 after acquiring an additional 700 shares during the period. Institutional investors own 89.33% of the company’s stock.

Separately, StockNews.com assumed coverage on shares of Sprague Resources in a research report on Thursday. They set a “hold” rating on the stock.

About Sprague Resources (Get Rating)

As of May 28, 2021, operates as a subsidiary of Hartree Partners, LP. As of May 28, 2021, Sprague Resources LP operates as a subsidiary of Hartree Partners, LP.

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