Argent Trust Co continued to hold its stake in Genie Energy Ltd. (NYSE:GNE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,019 shares of the oil and gas producer’s stock at the close of the second quarter. Argent Trust Co owned 0.10% of Genie Energy worth $168,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers grew its stake in shares of Genie Energy by 0.8% during the second quarter. Rhumbline Advisers now owns 16,930 shares of the oil and gas producer’s stock worth $129,000 after purchasing an additional 138 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Genie Energy by 2.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 30,411 shares of the oil and gas producer’s stock worth $232,000 after purchasing an additional 700 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Genie Energy by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 133,822 shares of the oil and gas producer’s stock worth $1,020,000 after purchasing an additional 12,413 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in shares of Genie Energy during the second quarter worth $111,000. Finally, Strs Ohio acquired a new position in shares of Genie Energy during the second quarter worth $187,000. Hedge funds and other institutional investors own 20.70% of the company’s stock.
Genie Energy Ltd. (NYSE GNE) opened at 6.23 on Friday. The company’s 50 day moving average is $6.06 and its 200-day moving average is $6.89. Genie Energy Ltd. has a 52 week low of $5.07 and a 52 week high of $8.31. The firm’s market cap is $153.73 million.
Genie Energy (NYSE:GNE) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported ($0.50) earnings per share (EPS) for the quarter. Genie Energy had a negative return on equity of 25.81% and a negative net margin of 18.10%. The firm had revenue of $52.21 million for the quarter. Equities analysts expect that Genie Energy Ltd. will post ($0.77) earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Tuesday, August 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 4.87%. The ex-dividend date was Friday, August 11th. Genie Energy’s dividend payout ratio (DPR) is -16.22%.
Separately, TheStreet downgraded shares of Genie Energy from a “c-” rating to a “d+” rating in a research note on Thursday, August 3rd.
In related news, Director James A. Courter sold 5,000 shares of Genie Energy stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $6.67, for a total transaction of $33,350.00. Following the sale, the director now owns 326,983 shares of the company’s stock, valued at approximately $2,180,976.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Avi Goldin sold 8,500 shares of Genie Energy stock in a transaction on Monday, August 7th. The stock was sold at an average price of $6.21, for a total transaction of $52,785.00. Following the sale, the chief financial officer now directly owns 24,765 shares in the company, valued at approximately $153,790.65. The disclosure for this sale can be found here. Insiders have sold a total of 38,500 shares of company stock worth $248,285 in the last ninety days. 31.00% of the stock is currently owned by insiders.
Genie Energy Company Profile
Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc and Residents Energy, Inc, and energy brokerage and marketing services.
Receive News & Ratings for Genie Energy Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genie Energy Ltd. and related companies with our FREE daily email newsletter.