SemGroup Corp (SEMG) Upgraded by Zacks Investment Research to Hold
SemGroup Corp (NASDAQ:SEMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “SemGroup Corp provides gathering, transportation, storage, distribution, blending, marketing and other midstream services to producers, refiners of petroleum products and others market participants located in Midwest and Rocky Mountain regions of the United States of America. The Company operates in the pipeline gathering and processing segments of the natural gas midstream industry in the U.S. and Canada. It conducts its business through seven business segments- SemCrude, SemStream, SemLogistics, SemMexico, SemCanada Crude, SemGas and SemCAMS. Its asset base includes pipelines, gathering systems, storage facilities, terminals, processing plants, blending facilities and other distribution assets. It also maintains and operates storage, terminal and marine facilities in the U.K. and operates a network of liquid asphalt cement terminals throughout Mexico. SemGroup Corp is headquartered in Tulsa, Oklahoma. “
Other equities research analysts also recently issued research reports about the company. Barclays PLC set a $36.00 target price on SemGroup Corp and gave the company a “hold” rating in a report on Saturday, May 6th. UBS AG reissued a “buy” rating and issued a $42.00 target price (down previously from $45.00) on shares of SemGroup Corp in a report on Monday, June 12th. Wells Fargo & Company downgraded SemGroup Corp from an “outperform” rating to a “market perform” rating in a report on Monday. Royal Bank Of Canada reissued an “outperform” rating and issued a $41.00 target price (down previously from $42.00) on shares of SemGroup Corp in a report on Tuesday, May 9th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $32.00 target price (down previously from $39.00) on shares of SemGroup Corp in a report on Wednesday, June 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.29.
Shares of SemGroup Corp (SEMG) opened at 26.25 on Friday. The stock has a market cap of $1.74 billion and a price-to-earnings ratio of 270.62. SemGroup Corp has a one year low of $22.55 and a one year high of $43.20. The company has a 50-day moving average of $26.51 and a 200 day moving average of $33.74.
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In other SemGroup Corp news, Director Sarah Morrison Barpoulis sold 1,470 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $31.45, for a total value of $46,231.50. Following the completion of the sale, the director now owns 13,130 shares of the company’s stock, valued at $412,938.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Carlin G. Conner bought 3,824 shares of SemGroup Corp stock in a transaction on Thursday, June 8th. The stock was acquired at an average cost of $26.18 per share, with a total value of $100,112.32. Following the acquisition, the insider now owns 163,903 shares of the company’s stock, valued at approximately $4,290,980.54. The disclosure for this purchase can be found here. In the last three months, insiders acquired 22,324 shares of company stock valued at $611,777.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in SemGroup Corp by 6,736.2% in the first quarter. BlackRock Inc. now owns 4,099,720 shares of the company’s stock valued at $147,591,000 after buying an additional 4,039,749 shares during the period. Dimensional Fund Advisors LP increased its position in SemGroup Corp by 17.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,333,659 shares of the company’s stock valued at $120,010,000 after buying an additional 485,040 shares during the period. Chickasaw Capital Management LLC increased its position in SemGroup Corp by 6.8% in the first quarter. Chickasaw Capital Management LLC now owns 6,373,401 shares of the company’s stock valued at $229,442,000 after buying an additional 404,078 shares during the period. Norges Bank purchased a new position in SemGroup Corp during the fourth quarter valued at about $16,669,000. Finally, Eagle Global Advisors LLC increased its position in SemGroup Corp by 13.0% in the first quarter. Eagle Global Advisors LLC now owns 2,817,927 shares of the company’s stock valued at $101,445,000 after buying an additional 323,623 shares during the period.
About SemGroup Corp
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