Sprague Resources (NYSE:SRLP) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Sprague Resources (NYSE:SRLPGet Rating) in a research note issued on Thursday. The brokerage set a “buy” rating on the oil and gas company’s stock.

Separately, TheStreet upgraded Sprague Resources from a “d+” rating to a “c-” rating in a research note on Monday, September 19th.

Sprague Resources Stock Up 0.1 %

SRLP stock opened at $20.00 on Thursday. Sprague Resources has a twelve month low of $12.31 and a twelve month high of $20.40. The business has a fifty day moving average of $19.94 and a 200-day moving average of $18.85. The company has a market cap of $524.76 million, a P/E ratio of -5.26 and a beta of 0.37.

Insiders Place Their Bets

In other news, major shareholder Sprague Hp Holdings Llc purchased 6,689,383 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was purchased at an average cost of $20.00 per share, with a total value of $133,787,660.00. Following the purchase, the insider now owns 19,548,849 shares in the company, valued at $390,976,980. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SRLP. BNP Paribas Arbitrage SNC raised its position in shares of Sprague Resources by 7,431.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 28,092 shares of the oil and gas company’s stock valued at $557,000 after buying an additional 27,719 shares during the last quarter. First Trust Capital Management L.P. grew its position in Sprague Resources by 57.3% in the 3rd quarter. First Trust Capital Management L.P. now owns 245,040 shares of the oil and gas company’s stock valued at $4,862,000 after buying an additional 89,259 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Sprague Resources by 6.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 14,643 shares of the oil and gas company’s stock worth $290,000 after purchasing an additional 890 shares in the last quarter. Royal Bank of Canada acquired a new position in shares of Sprague Resources during the 3rd quarter worth $25,000. Finally, Blackstone Inc. acquired a new position in Sprague Resources in the 3rd quarter valued at about $266,000. Institutional investors own 92.66% of the company’s stock.


About Sprague Resources

(Get Rating)

Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas. It operates through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment offers refined products, such as heating oil, diesel, residual fuel oil, kerosene, jet fuel and gasoline.

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