Oiltanking Partners Rating Lowered to Neutral at Zacks (OILT)
Oiltanking Partners (NASDAQ:OILT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, AnalystRatings.NET reports. They currently have a $61.20 target price on the stock. Zacks‘ price target would indicate a potential upside of 4.08% from the stock’s previous close.
Shares of Oiltanking Partners (NASDAQ:OILT) traded up 0.51% during mid-day trading on Monday, hitting $59.10. The stock had a trading volume of 9,976 shares. Oiltanking Partners has a one year low of $33.11 and a one year high of $59.68. The stock has a 50-day moving average of $52.03 and a 200-day moving average of $50.0. The company has a market cap of $2.299 billion and a P/E ratio of 31.73.
Oiltanking Partners (NASDAQ:OILT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.13. The company had revenue of $52.08 million for the quarter, compared to the consensus estimate of $41.05 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 54.0% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.45 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.03%.
In other Oiltanking Partners news, CEO Anne-Marie Ainsworth bought 1,000 shares of the stock in a transaction dated Monday, October 7th. The shares were purchased at an average cost of $55.04 per share, for a total transaction of $55,040.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $550,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Oiltanking Partners, L.P. (NASDAQ:OILT) is engaged in the terminaling, storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas.
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