Zacks Investment Research downgraded shares of SemGroup Corp (NASDAQ:SEMG) from a buy rating to a hold rating in a report released on Thursday.
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. “
A number of other research analysts have also issued reports on the company. Royal Bank Of Canada reiterated a buy rating and set a $33.00 price target on shares of SemGroup Corp in a research report on Monday, July 24th. Wells Fargo & Company downgraded SemGroup Corp from an outperform rating to a market perform rating in a research note on Monday, July 17th. Morgan Stanley reissued an equal weight rating and issued a $32.00 price objective (down previously from $39.00) on shares of SemGroup Corp in a research note on Wednesday, June 21st. Barclays PLC downgraded SemGroup Corp from an overweight rating to an equal weight rating and dropped their price objective for the stock from $36.00 to $32.00 in a research note on Tuesday, June 13th. Finally, UBS AG reissued a buy rating and issued a $42.00 price objective (down previously from $45.00) on shares of SemGroup Corp in a research note on Monday, June 12th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $34.43.
SemGroup Corp (NASDAQ:SEMG) remained flat at $27.05 on Thursday. The company’s stock had a trading volume of 929,251 shares. SemGroup Corp has a 12-month low of $22.55 and a 12-month high of $43.20. The company has a market cap of $1.79 billion and a price-to-earnings ratio of 278.87. The stock has a 50-day moving average of $26.04 and a 200-day moving average of $33.14.
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In other news, insider Carlin G. Conner acquired 3,824 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were bought at an average price of $26.18 per share, with a total value of $100,112.32. Following the purchase, the insider now owns 163,903 shares of the company’s stock, valued at $4,290,980.54. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Mcadam acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was purchased at an average cost of $28.00 per share, for a total transaction of $420,000.00. Following the purchase, the director now directly owns 4,077 shares in the company, valued at approximately $114,156. The disclosure for this purchase can be found here. Insiders bought a total of 22,324 shares of company stock worth $611,777 in the last three months.
Several hedge funds have recently bought and sold shares of SEMG. Karp Capital Management Corp acquired a new stake in shares of SemGroup Corp during the first quarter worth approximately $233,000. Comerica Bank acquired a new stake in shares of SemGroup Corp during the fourth quarter worth approximately $296,000. Signature Financial Management Inc. acquired a new stake in shares of SemGroup Corp during the first quarter worth approximately $304,000. KCG Holdings Inc. acquired a new stake in shares of SemGroup Corp during the first quarter worth approximately $308,000. Finally, Great West Life Assurance Co. Can boosted its stake in shares of SemGroup Corp by 22.4% in the first quarter. Great West Life Assurance Co. Can now owns 9,010 shares of the company’s stock worth $323,000 after buying an additional 1,651 shares in the last quarter.
SemGroup Corp Company Profile
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