Searle & CO. lowered its stake in shares of GasLog Partners LP (NYSE:GLOP) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,400 shares of the shipping company’s stock after selling 1,000 shares during the period. Searle & CO. owned approximately 0.12% of GasLog Partners worth $1,096,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of GLOP. OppenheimerFunds Inc. raised its position in shares of GasLog Partners by 43.5% in the first quarter. OppenheimerFunds Inc. now owns 2,500,867 shares of the shipping company’s stock worth $61,271,000 after buying an additional 758,500 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in shares of GasLog Partners by 8.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 351,200 shares of the shipping company’s stock worth $8,604,000 after buying an additional 26,200 shares during the period. Stifel Financial Corp purchased a new position in shares of GasLog Partners during the first quarter worth about $306,000. JPMorgan Chase & Co. raised its position in shares of GasLog Partners by 43,473.4% in the first quarter. JPMorgan Chase & Co. now owns 458,828 shares of the shipping company’s stock worth $11,242,000 after buying an additional 457,775 shares during the period. Finally, Evergreen Capital Management LLC purchased a new position in shares of GasLog Partners during the first quarter worth about $1,215,000. Hedge funds and other institutional investors own 58.82% of the company’s stock.
Shares of GasLog Partners LP (NYSE GLOP) traded down 1.22% during midday trading on Thursday, reaching $24.25. The company’s stock had a trading volume of 37,392 shares. The stock has a market capitalization of $946.84 million, a price-to-earnings ratio of 10.99 and a beta of 1.64. The company has a 50 day moving average of $22.97 and a 200-day moving average of $23.14. GasLog Partners LP has a 52 week low of $18.82 and a 52 week high of $25.20.
GasLog Partners (NYSE:GLOP) last announced its earnings results on Thursday, April 27th. The shipping company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.04. GasLog Partners had a net margin of 35.19% and a return on equity of 11.77%. The business had revenue of $57 million during the quarter, compared to analysts’ expectations of $57.02 million. During the same period in the previous year, the company posted $0.49 earnings per share. GasLog Partners’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that GasLog Partners LP will post $2.43 earnings per share for the current year.
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A number of equities analysts recently issued reports on the company. Jefferies Group LLC restated a “buy” rating and issued a $28.00 target price on shares of GasLog Partners in a research note on Tuesday, July 4th. Morgan Stanley upgraded GasLog Partners from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $23.50 to $26.00 in a research note on Tuesday, June 13th. Barclays PLC assumed coverage on GasLog Partners in a research note on Friday, April 21st. They issued an “equal weight” rating and a $26.00 target price for the company. Finally, TheStreet upgraded GasLog Partners from a “c-” rating to a “b” rating in a research note on Monday, May 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $25.17.
GasLog Partners Company Profile
GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.
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