SemGroup Corp (SEMG) Releases Earnings Results, Beats Expectations By $0.04 EPS
SemGroup Corp (NASDAQ:SEMG) issued its earnings results on Monday. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04, Morningstar.com reports. The company had revenue of $473 million for the quarter, compared to analysts’ expectations of $387.50 million. SemGroup Corp had a negative net margin of 2.25% and a negative return on equity of 2.88%. SemGroup Corp’s quarterly revenue was up 64.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS.
SemGroup Corp (NASDAQ SEMG) opened at 25.50 on Monday. SemGroup Corp has a 52 week low of $22.55 and a 52 week high of $43.20. The company has a 50-day moving average of $25.99 and a 200-day moving average of $32.85. The firm has a market cap of $1.69 billion and a price-to-earnings ratio of 262.89.
A number of brokerages have recently issued reports on SEMG. Zacks Investment Research raised shares of SemGroup Corp from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 14th. Barclays PLC set a $36.00 target price on shares of SemGroup Corp and gave the company a “hold” rating in a report on Saturday, May 6th. UBS AG reaffirmed a “buy” rating and issued a $42.00 target price (down from $45.00) on shares of SemGroup Corp in a report on Monday, June 12th. Wells Fargo & Company cut shares of SemGroup Corp from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $41.00 target price (down from $42.00) on shares of SemGroup Corp in a report on Tuesday, May 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $34.43.
In other SemGroup Corp news, Director Sarah Morrison Barpoulis sold 1,470 shares of SemGroup Corp stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $31.45, for a total value of $46,231.50. Following the sale, the director now owns 13,130 shares of the company’s stock, valued at $412,938.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Carlin G. Conner acquired 3,824 shares of the stock in a transaction on Thursday, June 8th. The stock was bought at an average cost of $26.18 per share, for a total transaction of $100,112.32. Following the transaction, 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 ninety days, insiders acquired 22,324 shares of company stock worth $611,777.
Hedge funds have recently made changes to their positions in the company. Trexquant Investment LP bought a new stake in shares of SemGroup Corp during the second quarter valued at approximately $227,000. Karp Capital Management Corp bought a new stake in shares of SemGroup Corp during the first quarter valued at approximately $233,000. BNP Paribas Arbitrage SA raised its stake in shares of SemGroup Corp by 537.3% in the second quarter. BNP Paribas Arbitrage SA now owns 9,114 shares of the company’s stock valued at $246,000 after buying an additional 7,684 shares in the last quarter. Comerica Bank raised its stake in shares of SemGroup Corp by 0.6% in the first quarter. Comerica Bank now owns 7,412 shares of the company’s stock valued at $247,000 after buying an additional 41 shares in the last quarter. Finally, Signature Financial Management Inc. raised its stake in shares of SemGroup Corp by 22.8% in the second quarter. Signature Financial Management Inc. now owns 10,375 shares of the company’s stock valued at $281,000 after buying an additional 1,925 shares in the last quarter.
About SemGroup Corp
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