Price Action Report: Genesis Energy, L.P. Stock Is Crashing Now

Price Action Report: Genesis Energy, L.P. Stock Is Crashing Now

The stock of Genesis Energy, L.P. (NYSE:GEL) is a huge mover today! The stock decreased 3.28% or $1.11 during the last trading session, hitting $32.68. About 1.37 million shares traded hands or 252.81% up from the average. Genesis Energy, L.P. (NYSE:GEL) has risen 12.22% since April 4, 2016 and is uptrending. It has outperformed by 11.13% the S&P500.
The move comes after 7 months negative chart setup for the $3.91B company. It was reported on Nov, 4 by Barchart.com. We have $30.07 PT which if reached, will make NYSE:GEL worth $312.80 million less.

Genesis Energy, L.P. (NYSE:GEL) Ratings Coverage

Out of 12 analysts covering Genesis Energy LP (NYSE:GEL), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Genesis Energy LP has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock with “Equal-Weight” rating in Wednesday, August 10 report. As per Monday, October 17, the company rating was initiated by CapitalOne. Wunderlich initiated the stock with “Buy” rating in Friday, September 25 report. On Thursday, August 4 the stock rating was maintained by Citigroup with “Buy”. The company was downgraded on Friday, January 15 by Wells Fargo. The stock has “Buy” rating given by Janney Capital on Thursday, October 22. The stock of Genesis Energy, L.P. (NYSE:GEL) earned “Outperform” rating by Wells Fargo on Monday, July 18. UBS maintained it with “Buy” rating and $53 target price in Thursday, August 4 report. Cowen & Co initiated the shares of GEL in a report on Friday, September 25 with “Buy” rating. The firm has “Neutral” rating given on Friday, November 4 by Credit Suisse.

According to Zacks Investment Research, “Genesis Energy operates crude oil common carrier pipelines and is an independent gatherer and marketer of crude oil in North America, with operations concentrated in Texas, Louisiana, Alabama, Florida, Mississippi and New Mexico.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.68, from 1.63 in 2016Q1. The ratio fall, as 20 funds sold all Genesis Energy, L.P. shares owned while 58 reduced positions. 24 funds bought stakes while 50 increased positions. They now own 75.18 million shares or 3.05% less from 77.55 million shares in 2016Q1.
Marquette Asset Mngmt last reported 0.78% of its portfolio in the stock. Bb&T Corp holds 0.01% of its portfolio in Genesis Energy, L.P. (NYSE:GEL) for 8,050 shares. Bank & Trust Of America Corporation De accumulated 0% or 478,326 shares. Nelson Van Denburg Campbell Wealth Mngmt Grp Limited Liability Company holds 0% or 245 shares in its portfolio. First Tru Advsrs Ltd Partnership last reported 177,920 shares in the company. Duff & Phelps Invest Mngmt Comm holds 0.49% or 861,100 shares in its portfolio. Jacobus Wealth Mngmt Inc owns 6,190 shares or 0.07% of their US portfolio. The Pennsylvania-based Glenmede Na has invested 0.02% in Genesis Energy, L.P. (NYSE:GEL). Advisory Serv Net Ltd Liability accumulated 1,350 shares or 0.01% of the stock. Selz Limited Liability Corporation last reported 356,000 shares in the company. Hap Trading Ltd Liability Corporation last reported 0.03% of its portfolio in the stock. Citigroup has 317,597 shares for 0.01% of their US portfolio. Moreover, Renaissance has 0% invested in Genesis Energy, L.P. (NYSE:GEL) for 20,700 shares. Benjamin F Edwards Inc accumulated 0% or 255 shares. Signaturefd Ltd Co reported 26,200 shares or 0.15% of all its holdings.

More recent Genesis Energy, L.P. (NYSE:GEL) news were published by: Streetinsider.com which released: “Credit Suisse Downgrades Genesis Energy LP (GEL) to Neutral” on November 04, 2016. Also Businesswire.com published the news titled: “Genesis Energy, L.P. Reports Third Quarter 2016 Results” on November 03, 2016. Businesswire.com‘s news article titled: “Genesis Energy, L.P. Prices Public Offering of Common Units” with publication date: July 22, 2016 was also an interesting one.

GEL Company Profile

Genesis Energy, L.P., incorporated on September 5, 1996, is a limited partnership focused on the midstream segment of the gas and oil industry in the Gulf Coast region of the United States, principally Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming, and in the Gulf of Mexico. The Firm operates through five divisions: Offshore Pipeline Transportation, Onshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of natural gas and crude oil in the Gulf of Mexico. The Onshore Pipeline Transportation segment is engaged in the transportation of crude oil and carbon dioxide (CO2). The Refinery Services segment is involved in the processing of high sulfur (or sour) gas streams as part of refining activities to remove the sulfur and selling the related by-product, sodium hydrosulfide (NaHS). The Marine Transportation segment provides waterborne transportation of petroleum products and crude oil throughout North America. The Supply and Logistics segment is engaged in terminaling, blending, storing, marketing, and transporting crude oil and petroleum products (fuel oil, asphalt and other heavy refined products) and CO2.

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