Zacks Investment Research upgraded shares of Sprague Resources (NYSE:SRLP) from a hold rating to a buy rating in a report published on Wednesday morning. The firm currently has $30.00 target price on the oil and gas company’s stock.

According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “

A number of other research firms have also recently commented on SRLP. ValuEngine upgraded shares of Sprague Resources from a hold rating to a buy rating in a report on Wednesday, September 19th. TheStreet upgraded shares of Sprague Resources from a c+ rating to a b rating in a report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $28.00.

NYSE SRLP opened at $26.90 on Wednesday. The stock has a market capitalization of $607.80 million, a PE ratio of 23.81 and a beta of 1.32. Sprague Resources has a 12 month low of $21.80 and a 12 month high of $29.00.

Sprague Resources (NYSE:SRLP) last posted its quarterly earnings results on Wednesday, August 8th. The oil and gas company reported ($0.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.15). The company had revenue of $741.66 million during the quarter, compared to the consensus estimate of $678.35 million. Sprague Resources had a return on equity of 19.91% and a net margin of 0.91%. On average, research analysts predict that Sprague Resources will post 3.57 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Sprague Resources during the 2nd quarter worth about $414,000. Tower Research Capital LLC TRC bought a new position in Sprague Resources during the 2nd quarter worth about $101,000. First Republic Investment Management Inc. grew its holdings in Sprague Resources by 197.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 37,370 shares of the oil and gas company’s stock worth $949,000 after acquiring an additional 24,791 shares in the last quarter. Securian Asset Management Inc grew its holdings in Sprague Resources by 18.3% during the 2nd quarter. Securian Asset Management Inc now owns 71,118 shares of the oil and gas company’s stock worth $1,806,000 after acquiring an additional 11,000 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Sprague Resources by 19.2% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 16,794 shares of the oil and gas company’s stock worth $427,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors own 20.63% of the company’s stock.

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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