Sprague Resources (NYSE:SRLP) Stock Crosses Below Two Hundred Day Moving Average of $23.11

Sprague Resources LP (NYSE:SRLP)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.11 and traded as low as $17.32. Sprague Resources shares last traded at $17.60, with a volume of 47,330 shares changing hands.

Several brokerages have commented on SRLP. Zacks Investment Research lowered Sprague Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 11th. TheStreet lowered Sprague Resources from a “b” rating to a “c” rating in a research note on Tuesday, September 7th.

The company has a market capitalization of $461.58 million, a price-to-earnings ratio of 27.08 and a beta of 0.88. The company has a quick ratio of 0.56, a current ratio of 0.94 and a debt-to-equity ratio of 12.50. The company has a 50 day simple moving average of $21.06 and a 200 day simple moving average of $23.11.

The business also recently announced a quarterly dividend, which was paid on Monday, August 9th. Stockholders of record on Tuesday, August 3rd were paid a $0.6675 dividend. The ex-dividend date of this dividend was Monday, August 2nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 15.17%. This is a positive change from Sprague Resources’s previous quarterly dividend of $0.65. Sprague Resources’s dividend payout ratio (DPR) is 240.54%.

Hedge funds have recently bought and sold shares of the company. Tortoise Index Solutions LLC acquired a new stake in shares of Sprague Resources in the second quarter valued at about $223,000. Captrust Financial Advisors purchased a new position in Sprague Resources in the first quarter valued at about $53,000. Morgan Stanley boosted its holdings in Sprague Resources by 295.7% in the second quarter. Morgan Stanley now owns 43,848 shares of the oil and gas company’s stock valued at $1,111,000 after purchasing an additional 32,766 shares during the last quarter. LPL Financial LLC boosted its holdings in Sprague Resources by 7.4% in the second quarter. LPL Financial LLC now owns 13,344 shares of the oil and gas company’s stock valued at $338,000 after purchasing an additional 914 shares during the last quarter. Finally, United Capital Financial Advisers LLC purchased a new position in Sprague Resources in the second quarter valued at about $379,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

About Sprague Resources (NYSE:SRLP)

Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas. It operates its business through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment offers refined products, such as heating oil, diesel, residual fuel oil, kerosene, jet fuel and gasoline.

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