SemGroup Corp (NASDAQ:SEMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “SemGroup Corp provides gathering, transportation, storage, distribution, blending, marketing and other midstream services to producers, refiners of petroleum products and others market participants located in Midwest and Rocky Mountain regions of the United States of America. The Company operates in the pipeline gathering and processing segments of the natural gas midstream industry in the U.S. and Canada. It conducts its business through seven business segments- SemCrude, SemStream, SemLogistics, SemMexico, SemCanada Crude, SemGas and SemCAMS. Its asset base includes pipelines, gathering systems, storage facilities, terminals, processing plants, blending facilities and other distribution assets. It also maintains and operates storage, terminal and marine facilities in the U.K. and operates a network of liquid asphalt cement terminals throughout Mexico. SemGroup Corp is headquartered in Tulsa, Oklahoma. “
Several other research analysts have also commented on the company. Wells Fargo & Company lowered SemGroup Corp from an “outperform” rating to a “market perform” rating in a report on Monday. Royal Bank Of Canada reduced their price target on SemGroup Corp from $41.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, June 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price target (down previously from $39.00) on shares of SemGroup Corp in a report on Wednesday, June 21st. Barclays PLC lowered SemGroup Corp from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $36.00 to $32.00 in a report on Tuesday, June 13th. Finally, UBS AG reiterated a “buy” rating and set a $42.00 price target (down previously from $45.00) on shares of SemGroup Corp in a report on Monday, June 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.29.
SemGroup Corp (NASDAQ SEMG) opened at 26.25 on Friday. SemGroup Corp has a 12-month low of $22.55 and a 12-month high of $43.20. The company has a market capitalization of $1.74 billion and a PE ratio of 270.62. The stock has a 50 day moving average of $26.51 and a 200-day moving average of $33.74.
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In related news, Director Sarah Morrison Barpoulis sold 1,470 shares of the business’s 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 directly owns 13,130 shares in the company, valued at approximately $412,938.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William J. Mcadam acquired 15,000 shares of SemGroup Corp stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average price of $28.00 per share, for a total transaction of $420,000.00. Following the completion of the acquisition, the director now owns 4,077 shares in the company, valued at approximately $114,156. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 22,324 shares of company stock worth $611,777.
Hedge funds have recently modified their holdings of the stock. Chickasaw Capital Management LLC raised its stake in shares of SemGroup Corp by 6.8% in the first quarter. Chickasaw Capital Management LLC now owns 6,373,401 shares of the company’s stock valued at $229,442,000 after buying an additional 404,078 shares during the period. Vanguard Group Inc. raised its stake in shares of SemGroup Corp by 5.6% in the first quarter. Vanguard Group Inc. now owns 5,520,635 shares of the company’s stock valued at $198,743,000 after buying an additional 294,061 shares during the period. Iridian Asset Management LLC CT raised its stake in shares of SemGroup Corp by 2.2% in the first quarter. Iridian Asset Management LLC CT now owns 5,467,272 shares of the company’s stock valued at $196,822,000 after buying an additional 118,925 shares during the period. BlackRock Inc. raised its stake in shares of SemGroup Corp by 6,736.2% in the first quarter. BlackRock Inc. now owns 4,099,720 shares of the company’s stock valued at $147,591,000 after buying an additional 4,039,749 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of SemGroup Corp by 17.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,333,659 shares of the company’s stock valued at $120,010,000 after buying an additional 485,040 shares during the period.
About SemGroup Corp
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