Palo Duro Investment Partners LP Acquires New Stake in Chart Industries, Inc. $GTLS

Key Points

• Palo Duro Investment Partners LP purchased 20,798 shares of Chart Industries, Inc., valued at approximately $3 million, making it the firm's 11th largest holding.
• Chart Industries reported Q2 earnings per share of $2.59, missing analysts' estimates of $2.62, with revenues of $1.08 billion compared to expectations of $1.11 billion.
• Several analysts downgraded Chart Industries' stock rating from "strong-buy" to "hold," with an average target price of $202.00 per share.

Palo Duro Investment Partners LP purchased a new position in Chart Industries, Inc. (NYSE:GTLS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,798 shares of the industrial products company's stock, valued at approximately $3,002,000. Chart Industries accounts for about 0.9% of Palo Duro Investment Partners LP's investment portfolio, making the stock its 11th biggest position.

Several other hedge funds have also recently made changes to their positions in GTLS. First Manhattan CO. LLC. boosted its position in Chart Industries by 3.1% during the fourth quarter. First Manhattan CO. LLC. now owns 1,779 shares of the industrial products company's stock valued at $340,000 after buying an additional 54 shares during the period. Xponance Inc. boosted its holdings in Chart Industries by 1.4% during the 1st quarter. Xponance Inc. now owns 6,116 shares of the industrial products company's stock valued at $883,000 after acquiring an additional 85 shares during the period. Oppenheimer Asset Management Inc. grew its position in Chart Industries by 1.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,781 shares of the industrial products company's stock worth $979,000 after acquiring an additional 98 shares during the last quarter. Global X Japan Co. Ltd. increased its stake in Chart Industries by 142.9% in the 1st quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company's stock worth $25,000 after purchasing an additional 100 shares during the period. Finally, State of Michigan Retirement System lifted its position in Chart Industries by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,100 shares of the industrial products company's stock valued at $1,458,000 after purchasing an additional 100 shares during the last quarter.

Analysts Set New Price Targets

GTLS has been the topic of several analyst reports. Seaport Res Ptn downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Hsbc Global Res raised shares of Chart Industries to a "hold" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group set a $180.00 target price on Chart Industries and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Morgan Stanley lowered their price target on Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Citigroup lowered Chart Industries from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Four analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $202.00.

Chart Industries Stock Up 0.4%

Shares of GTLS traded up $0.72 on Thursday, reaching $199.87. The stock had a trading volume of 783,448 shares, compared to its average volume of 1,359,974. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.27 and a current ratio of 1.55. Chart Industries, Inc. has a 12-month low of $104.60 and a 12-month high of $220.03. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 37.15, a price-to-earnings-growth ratio of 1.15 and a beta of 1.67. The company has a 50-day simple moving average of $188.06 and a 200-day simple moving average of $163.09.

Chart Industries (NYSE:GTLS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $2.59 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.03). Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.11 billion. Sell-side analysts predict that Chart Industries, Inc. will post 9.02 EPS for the current year.

Chart Industries Profile

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.