Stock Traders Buy Large Volume of Put Options on Genesis Energy (NYSE:GEL)

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Genesis Energy, L.P. (NYSE:GEL) was the target of some unusual options trading on Monday. Traders bought 2,088 put options on the company. This is an increase of approximately 1,669% compared to the typical volume of 118 put options.

A number of equities research analysts have weighed in on GEL shares. UBS Group reduced their target price on Genesis Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Zacks Investment Research lowered Genesis Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. ValuEngine raised Genesis Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 23rd. Finally, Royal Bank of Canada restated a “buy” rating and set a $27.00 price objective on shares of Genesis Energy in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $25.67.

GEL stock opened at $18.57 on Wednesday. The firm has a 50-day moving average price of $19.76 and a 200-day moving average price of $21.32. Genesis Energy has a 12 month low of $17.55 and a 12 month high of $24.04. The company has a current ratio of 1.25, a quick ratio of 1.08 and a debt-to-equity ratio of 2.27. The stock has a market capitalization of $2.33 billion, a P/E ratio of -232.13 and a beta of 1.27.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.12). The company had revenue of $621.70 million for the quarter, compared to the consensus estimate of $613.81 million. Genesis Energy had a net margin of 1.90% and a return on equity of 8.53%. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) earnings per share. As a group, equities analysts predict that Genesis Energy will post 0.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 11.85%. The ex-dividend date of this dividend was Wednesday, October 30th. Genesis Energy’s payout ratio is -2,750.00%.

In other news, Director Kenneth M. Jastrow II acquired 30,295 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of $18.81 per share, with a total value of $569,848.95. Following the completion of the purchase, the director now directly owns 130,295 shares of the company’s stock, valued at approximately $2,450,848.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth M. Jastrow II acquired 19,705 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $19.18 per share, for a total transaction of $377,941.90. Following the completion of the purchase, the director now directly owns 130,295 shares of the company’s stock, valued at $2,499,058.10. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of GEL. Van ECK Associates Corp grew its stake in shares of Genesis Energy by 3.3% during the second quarter. Van ECK Associates Corp now owns 35,164 shares of the pipeline company’s stock worth $770,000 after buying an additional 1,107 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Genesis Energy by 7.2% during the 2nd quarter. First Trust Advisors LP now owns 275,133 shares of the pipeline company’s stock valued at $6,025,000 after acquiring an additional 18,463 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Genesis Energy by 37.9% during the 3rd quarter. Alps Advisors Inc. now owns 13,160,177 shares of the pipeline company’s stock valued at $282,549,000 after acquiring an additional 3,615,352 shares in the last quarter. Biltmore Capital Advisors LLC grew its position in Genesis Energy by 50.0% during the 3rd quarter. Biltmore Capital Advisors LLC now owns 300,000 shares of the pipeline company’s stock worth $6,441,000 after acquiring an additional 100,000 shares during the last quarter. Finally, BBVA USA Bancshares Inc. bought a new stake in Genesis Energy during the 3rd quarter worth $386,000. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Genesis Energy Company Profile

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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