Oiltanking Partners Given Average Recommendation of “Hold” by Brokerages (NASDAQ:OILT)
Oiltanking Partners (NASDAQ:OILT) has earned a consensus rating of “Hold” from the eight ratings firms that are covering the stock, AmericanBankingNews.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $44.58.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Oiltanking Partners in a research note on Wednesday, July 23rd. They now have a $57.00 price target on the stock, up previously from $47.50. Separately, analysts at RBC Capital raised their price target on shares of Oiltanking Partners from $43.00 to $48.00 in a research note on Monday, June 30th. They now have a “sector perform” rating on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Oiltanking Partners in a research note on Thursday, June 26th. They now have a $50.00 price target on the stock, up previously from $45.00.
Shares of Oiltanking Partners (NASDAQ:OILT) traded up 0.65% on Thursday, hitting $49.813. 3,657 shares of the company’s stock traded hands. Oiltanking Partners has a 1-year low of $23.775 and a 1-year high of $51.92. The stock has a 50-day moving average of $46.96 and a 200-day moving average of $41.23. The company has a market cap of $4.141 billion and a P/E ratio of 36.63.
Oiltanking Partners (NASDAQ:OILT) last announced its earnings results on Wednesday, August 6th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.33. The company had revenue of $69.10 million for the quarter, compared to the consensus estimate of $63.30 million. During the same quarter last year, the company posted $0.61 earnings per share. Oiltanking Partners’s revenue was up 32.6% compared to the same quarter last year. On average, analysts predict that Oiltanking Partners will post $1.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a boost from Oiltanking Partners’s previous quarterly dividend of $0.25.
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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