Brokerages Set SemGroup Corp (SEMG) Target Price at $34.00

Shares of SemGroup Corp (NASDAQ:SEMG) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $34.00.

SEMG has been the subject of several recent research reports. Zacks Investment Research downgraded SemGroup Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 price objective on shares of SemGroup Corp in a report on Friday, April 7th. Barclays PLC upgraded SemGroup Corp from an “equal weight” rating to an “overweight” rating and set a $36.00 price objective for the company in a report on Tuesday, June 13th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (down from $39.00) on shares of SemGroup Corp in a report on Wednesday, June 21st.

SemGroup Corp (NASDAQ:SEMG) traded up 0.918% during mid-day trading on Friday, hitting $24.725. 183,948 shares of the stock were exchanged. The stock has a 50 day moving average of $30.42 and a 200-day moving average of $35.90. SemGroup Corp has a 52-week low of $23.30 and a 52-week high of $43.20. The stock has a market cap of $1.64 billion and a price-to-earnings ratio of 254.897.

In other SemGroup Corp news, Director Sarah Morrison Barpoulis sold 1,470 shares of SemGroup Corp stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $31.45, for a total value of $46,231.50. Following the transaction, the director now owns 13,130 shares in the company, valued at $412,938.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Mcadam bought 15,000 shares of the business’s stock in a transaction 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 purchase, the director now directly owns 4,077 shares of the company’s stock, valued at $114,156. The disclosure for this purchase can be found here. Insiders acquired 22,324 shares of company stock worth $611,777 in the last quarter.

Institutional investors have recently bought and sold shares of the stock. Ancora Advisors LLC bought a new position in SemGroup Corp during the fourth quarter valued at about $151,000. WFG Advisors LP raised its position in SemGroup Corp by 2,677.4% in the fourth quarter. WFG Advisors LP now owns 10,443 shares of the company’s stock valued at $197,000 after buying an additional 10,067 shares during the period. Karp Capital Management Corp bought a new position in SemGroup Corp during the first quarter valued at about $233,000. Comerica Bank raised its position in SemGroup Corp by 0.6% in the first quarter. Comerica Bank now owns 7,412 shares of the company’s stock valued at $247,000 after buying an additional 41 shares during the period. Finally, Signature Financial Management Inc. bought a new position in SemGroup Corp during the first quarter valued at about $304,000.

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