Sanchez Production Partners LP (SNMP) Short Interest Update
Sanchez Production Partners LP (NYSEAMERICAN:SNMP) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 85,313 shares, an increase of 213.8% from the August 15th total of 27,189 shares. Based on an average daily trading volume, of 111,090 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.7% of the company’s shares are sold short.
In other news, Director Eduardo Augusto Sanchez sold 25,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $9.11, for a total transaction of $227,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory Martin Larberg sold 2,158 shares of the business’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $11.80, for a total transaction of $25,464.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,158 shares of company stock valued at $503,764.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Sanchez Production Partners during the first quarter worth $618,000. Deutsche Bank AG acquired a new position in shares of Sanchez Production Partners during the fourth quarter worth $516,000. Finally, Renaissance Technologies LLC lifted its position in shares of Sanchez Production Partners by 115.5% during the second quarter. Renaissance Technologies LLC now owns 92,900 shares of the basic materials company’s stock worth $1,096,000 after purchasing an additional 49,800 shares in the last quarter.
Sanchez Production Partners (NYSEAMERICAN:SNMP) last posted its earnings results on Thursday, August 9th. The basic materials company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.47). The firm had revenue of $17.04 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Tuesday, August 21st were given a dividend of $0.4508 per share. The ex-dividend date was Monday, August 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 22.13%.
SNMP has been the topic of a number of recent research reports. Stephens set a $16.00 target price on shares of Sanchez Production Partners and gave the stock a “buy” rating in a research report on Friday, August 17th. TheStreet raised shares of Sanchez Production Partners from a “d+” rating to a “c” rating in a research report on Friday, June 22nd.
About Sanchez Production Partners
Sanchez Midstream Partners LP engages in the acquisition, development, ownership, and operation of midstream and other energy-related assets in the United States. It operates in two segments, Midstream and Production. The Midstream segment engages in gathering, processing, and transporting natural gas, NGLs, and oil.
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