SemGroup Corp (NYSE:SEMG) saw some unusual options trading on Monday. Stock investors acquired 1,039 call options on the stock. This is an increase of approximately 1,067% compared to the average daily volume of 89 call options.
In related news, Director William J. Mcadam purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $22.73 per share, with a total value of $227,300.00. Following the completion of the purchase, the director now owns 4,077 shares in the company, valued at approximately $92,670.21. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
A number of large investors have recently made changes to their positions in SEMG. Royal Bank of Canada boosted its holdings in SemGroup by 38.9% in the second quarter. Royal Bank of Canada now owns 13,028 shares of the pipeline company’s stock worth $351,000 after acquiring an additional 3,647 shares in the last quarter. First Trust Advisors LP bought a new position in SemGroup in the third quarter worth approximately $665,000. Canada Pension Plan Investment Board boosted its holdings in SemGroup by 1,366.7% in the third quarter. Canada Pension Plan Investment Board now owns 17,600 shares of the pipeline company’s stock worth $506,000 after acquiring an additional 16,400 shares in the last quarter. Dupont Capital Management Corp bought a new position in SemGroup in the third quarter worth approximately $771,000. Finally, Keybank National Association OH boosted its holdings in SemGroup by 134.5% in the third quarter. Keybank National Association OH now owns 25,005 shares of the pipeline company’s stock worth $719,000 after acquiring an additional 14,340 shares in the last quarter.
SemGroup (NYSE:SEMG) last announced its quarterly earnings results on Monday, February 26th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $606.80 million for the quarter, compared to analyst estimates of $560.34 million. SemGroup had a positive return on equity of 5.14% and a negative net margin of 0.82%. The company’s quarterly revenue was up 50.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. analysts forecast that SemGroup will post 0.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be issued a $0.4725 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.89 annualized dividend and a yield of 8.24%. This is a positive change from SemGroup’s previous quarterly dividend of $0.45. SemGroup’s dividend payout ratio is presently -821.74%.
SEMG has been the subject of several recent analyst reports. Zacks Investment Research raised SemGroup from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 22nd. Morgan Stanley decreased their target price on SemGroup from $32.00 to $29.00 and set an “equal weight” rating for the company in a research note on Friday, November 17th. Barclays decreased their target price on SemGroup from $32.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 29th. Royal Bank of Canada decreased their target price on SemGroup from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday, November 14th. Finally, SunTrust Banks set a $29.00 target price on SemGroup and gave the stock a “buy” rating in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.63.
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SemGroup Corporation is a provider of gathering, transportation, storage, distribution, marketing and other midstream services to producers, refiners of petroleum products and other market participants located in the Midwest and Rocky Mountain regions of the United States and Canada. The Company’s segments include Crude Transportation, which operates crude oil pipelines and truck transportation businesses in the United States; Crude Facilities, which operates crude oil storage and terminal businesses in the United States; Crude Supply and Logistics, which operates a crude oil marketing business; SemGas, which provides natural gas gathering and processing services; SemCAMS, which operates natural gas processing and gathering facilities in Alberta, Canada; SemLogistics, which owns petroleum products storage facility in the United Kingdom, and SemMexico, which provides liquid asphalt cement products and product application services to the Mexican market, and Corporate and Other.
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