SemGroup (SEMG) Stock Price Up 7.2% Following Insider Buying Activity
Shares of SemGroup Corp (NYSE:SEMG) rose 7.2% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $17.25 and last traded at $16.90. Approximately 957,786 shares traded hands during trading, an increase of 12% from the average daily volume of 854,286 shares. The stock had previously closed at $15.76.
Specifically, Director William J. Mcadam purchased 15,000 shares of the company’s stock in a transaction on Monday, November 19th. The shares were bought at an average price of $16.57 per share, for a total transaction of $248,550.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by company insiders.
SEMG has been the topic of several analyst reports. Barclays restated a “hold” rating and issued a $25.00 price target on shares of SemGroup in a research note on Friday, October 12th. Wells Fargo & Co restated a “hold” rating on shares of SemGroup in a research note on Wednesday, September 12th. Goldman Sachs Group lowered shares of SemGroup from a “neutral” rating to a “sell” rating in a research note on Monday, October 8th. ValuEngine cut shares of SemGroup from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. Finally, Royal Bank of Canada decreased their price objective on shares of SemGroup from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. SemGroup presently has a consensus rating of “Hold” and a consensus target price of $26.60.
SemGroup (NYSE:SEMG) last posted its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.09). The company had revenue of $634.00 million during the quarter, compared to the consensus estimate of $586.71 million. SemGroup had a negative net margin of 0.99% and a positive return on equity of 0.32%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.25) earnings per share. Sell-side analysts expect that SemGroup Corp will post -0.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Friday, November 16th will be issued a $0.4725 dividend. This represents a $1.89 annualized dividend and a dividend yield of 11.18%. The ex-dividend date is Thursday, November 15th. SemGroup’s dividend payout ratio (DPR) is presently -787.50%.
Several institutional investors have recently bought and sold shares of SEMG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in SemGroup during the second quarter worth approximately $36,753,000. BlackRock Inc. boosted its holdings in SemGroup by 20.9% during the second quarter. BlackRock Inc. now owns 5,526,180 shares of the pipeline company’s stock worth $140,363,000 after buying an additional 953,465 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in SemGroup during the third quarter worth approximately $18,132,000. Kayne Anderson Capital Advisors LP boosted its holdings in SemGroup by 24.3% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,843,619 shares of the pipeline company’s stock worth $62,689,000 after buying an additional 555,991 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in SemGroup by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 6,280,734 shares of the pipeline company’s stock worth $159,530,000 after buying an additional 516,765 shares in the last quarter.
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About SemGroup (NYSE:SEMG)
SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. Its Crude Transportation segment operates crude oil pipelines and truck transportation businesses. It operates a 455-mile crude oil gathering and transportation pipeline system in Kansas and northern Oklahoma; a 75-mile crude oil gathering pipeline system that transports crude oil from production facilities in the DJ Basin to the pipeline owned by White Cliffs Pipeline, LLC; a 527-mile pipeline that transports crude oil from Platteville, Colorado to Cushing, Oklahoma; and 3 pipelines with an aggregate of 106 miles of pipe, as well as crude oil trucking fleet of 215 transport trucks and 210 trailers.
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