OppenheimerFunds Inc. decreased its position in Global Partners LP (NYSE:GLP) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,007,013 shares of the energy company’s stock after selling 42,900 shares during the period. OppenheimerFunds Inc. owned approximately 0.12% of Global Partners worth $66,917,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP lifted its stake in shares of Global Partners by 6.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,931,015 shares of the energy company’s stock worth $33,589,000 after acquiring an additional 110,792 shares during the period. Acadian Asset Management LLC lifted its stake in Global Partners by 263.2% during the fourth quarter. Acadian Asset Management LLC now owns 41,437 shares of the energy company’s stock valued at $693,000 after purchasing an additional 30,029 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in Global Partners by 2.8% during the third quarter. HITE Hedge Asset Management LLC now owns 671,242 shares of the energy company’s stock valued at $11,680,000 after purchasing an additional 18,022 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Global Partners by 34.4% during the third quarter. GSA Capital Partners LLP now owns 65,276 shares of the energy company’s stock valued at $1,136,000 after purchasing an additional 16,720 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in Global Partners during the second quarter valued at approximately $187,000. Hedge funds and other institutional investors own 40.78% of the company’s stock.
Shares of Global Partners LP (GLP) opened at $16.70 on Monday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.52 and a quick ratio of 0.93. The company has a market cap of $567.73, a P/E ratio of -22.27 and a beta of 0.86. Global Partners LP has a 12-month low of $15.80 and a 12-month high of $20.86.
Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Global Partners from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Global Partners in a research note on Tuesday, November 21st. Finally, TheStreet raised shares of Global Partners from a “d+” rating to a “c” rating in a research note on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Global Partners currently has a consensus rating of “Hold” and a consensus price target of $19.00.
Global Partners Profile
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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