Dimensional Fund Advisors LP Sells 104,507 Shares of Genie Energy Ltd. $GNE

Key Points

• Dimensional Fund Advisors reduced its Genie Energy stake by 11.6%, selling 104,507 shares and retaining 794,020 shares valued at approximately $11.2 million. Institutional investors collectively own 49.15% of the company.
• Genie Energy reported quarterly EPS of $0.43, exceeding the $0.25 analyst consensus, while revenue of $100.4 million fell short of the $104.57 million estimate.
• The company declared a quarterly dividend of $0.075, equivalent to an annualized $0.30 payout and a 2.1% yield. Despite mixed analyst actions, Genie Energy carries a consensus “Buy” rating.

Dimensional Fund Advisors LP lowered its stake in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 11.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 794,020 shares of the oil and gas producer's stock after selling 104,507 shares during the period. Dimensional Fund Advisors LP owned approximately 3.00% of Genie Energy worth $11,227,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Genie Energy by 1.1% in the third quarter. Vanguard Group Inc. now owns 1,208,916 shares of the oil and gas producer's stock worth $18,073,000 after purchasing an additional 13,567 shares during the last quarter. J. Goldman & Co LP boosted its position in shares of Genie Energy by 325.4% during the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer's stock valued at $11,097,000 after buying an additional 616,017 shares during the last quarter. State Street Corp boosted its position in shares of Genie Energy by 9.7% during the fourth quarter. State Street Corp now owns 523,427 shares of the oil and gas producer's stock valued at $7,213,000 after buying an additional 46,344 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Genie Energy during the third quarter worth $4,546,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Genie Energy by 21.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 179,178 shares of the oil and gas producer's stock worth $2,679,000 after buying an additional 32,205 shares in the last quarter. Institutional investors and hedge funds own 49.15% of the company's stock.

Genie Energy Trading Down 0.1%

Shares of Genie Energy stock opened at $14.53 on Monday. Genie Energy Ltd. has a 12-month low of $12.69 and a 12-month high of $16.60. The company has a market cap of $383.61 million, a price-to-earnings ratio of 29.65 and a beta of 0.20. The company has a current ratio of 2.54, a quick ratio of 2.44 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $14.19 and its 200-day moving average price is $14.12.

Genie Energy (NYSE:GNE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.18. Genie Energy had a return on equity of 13.00% and a net margin of 4.95%.The company had revenue of $100.40 million for the quarter, compared to the consensus estimate of $104.57 million.

Genie Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Friday, August 14th will be given a $0.075 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.1%. Genie Energy's payout ratio is presently 61.22%.

Analysts Set New Price Targets

GNE has been the subject of several analyst reports. Wall Street Zen lowered shares of Genie Energy from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Freedom Capital upgraded Genie Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. Finally, Weiss Ratings raised Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Genie Energy currently has a consensus rating of "Buy".

About Genie Energy

Genie Energy Ltd. NYSE: GNE is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.

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