CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys 225,000 Shares of ARKO Corp. $ARKO

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of ARKO Corp. (NASDAQ:ARKO) by 26.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,075,000 shares of the company’s stock after purchasing an additional 225,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in ARKO were worth $4,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in ARKO by 201.9% during the first quarter. Royal Bank of Canada now owns 6,681 shares of the company’s stock valued at $37,000 after purchasing an additional 4,468 shares during the last quarter. Legal & General Group Plc acquired a new position in ARKO in the 2nd quarter valued at $58,000. Walleye Capital LLC bought a new position in ARKO in the 1st quarter worth $69,000. Public Employees Retirement System of Ohio bought a new position in ARKO in the 2nd quarter worth $138,000. Finally, The Manufacturers Life Insurance Company bought a new position in ARKO in the 2nd quarter worth $169,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

ARKO Stock Up 0.8%

Shares of ARKO opened at $3.84 on Tuesday. The company has a market capitalization of $430.81 million, a P/E ratio of 54.86 and a beta of 0.93. ARKO Corp. has a one year low of $3.80 and a one year high of $8.76. The business’s 50 day simple moving average is $4.35 and its 200-day simple moving average is $5.99. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.15.

ARKO (NASDAQ:ARKO) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.11). The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $1.99 billion. ARKO had a net margin of 0.19% and a return on equity of 4.02%. As a group, sell-side analysts predict that ARKO Corp. will post 0.11 EPS for the current fiscal year.

ARKO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Thursday, August 20th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.12 annualized dividend and a yield of 3.1%. ARKO’s dividend payout ratio is 171.43%.

Wall Street Analyst Weigh In

ARKO has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of ARKO from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Raymond James Financial cut ARKO from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $8.00 to $7.00 in a research report on Monday, August 10th. Mizuho set a $22.00 target price on ARKO in a research note on Tuesday, July 28th. Finally, Weiss Ratings lowered ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.50.

ARKO Profile

ARKO Corp. (NASDAQ: ARKO) is a convenience store and fuel retail operator in the United States. Through its subsidiary GPM Investments, the company operates convenience stores that sell gasoline, diesel fuel, food, beverages, tobacco products, and other everyday consumer goods. Many locations also offer prepared food, loyalty programs, and additional retail services.

ARKO operates stores under a variety of regional and national banners, including fas mart, E-Z Mart, Scotchman, Young’s, Li’l Cricket, BreadBox, and others.