Genesis Energy (NYSE:GEL) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Genesis Energy's stock price has recently surpassed its 200-day moving average, reaching a high of $16.76 during trading, indicating a potential upward trend.
• Analysts have a consensus rating of "Buy" for Genesis Energy, with price targets raised to $19.00 and $20.00 by Royal Bank of Canada and Wells Fargo, respectively.
• The company reported a quarterly loss of ($0.12) EPS, missing expectations, alongside a 12.3% decrease in revenue year-over-year, highlighting challenges in its financial performance.

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.39 and traded as high as $16.76. Genesis Energy shares last traded at $16.67, with a volume of 296,652 shares traded.

Wall Street Analysts Forecast Growth

GEL has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price objective on Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen raised Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Wells Fargo & Company upped their price objective on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.50.

Genesis Energy Trading Up 2.0%

The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85. The business's 50 day moving average is $16.92 and its 200 day moving average is $15.54. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -3.30 and a beta of 1.22.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its earnings results on Thursday, July 31st. The pipeline company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). The firm had revenue of $377.35 million for the quarter. Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.The company's quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.25) EPS.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, July 31st. Genesis Energy's dividend payout ratio is currently -12.99%.

Hedge Funds Weigh In On Genesis Energy

Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. acquired a new position in Genesis Energy in the second quarter valued at $49,000. Jones Financial Companies Lllp acquired a new position in Genesis Energy in the first quarter valued at $108,000. Ameriprise Financial Inc. acquired a new position in Genesis Energy in the fourth quarter valued at $126,000. Osaic Holdings Inc. boosted its stake in Genesis Energy by 91.4% in the second quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company's stock valued at $133,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Genesis Energy in the first quarter valued at $193,000. Institutional investors and hedge funds own 66.82% of the company's stock.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.