Zacks Investment Research downgraded shares of SemGroup Corp (NASDAQ:SEMG) from a buy rating to a hold rating in a report released on Thursday.

According to Zacks, “SemGroup Corp provides gathering, transportation, storage, distribution, blending, marketing and other midstream services to producers, refiners of petroleum products and others market participants located in Midwest and Rocky Mountain regions of the United States of America. The Company operates in the pipeline gathering and processing segments of the natural gas midstream industry in the U.S. and Canada. It conducts its business through seven business segments- SemCrude, SemStream, SemLogistics, SemMexico, SemCanada Crude, SemGas and SemCAMS. Its asset base includes pipelines, gathering systems, storage facilities, terminals, processing plants, blending facilities and other distribution assets. It also maintains and operates storage, terminal and marine facilities in the U.K. and operates a network of liquid asphalt cement terminals throughout Mexico. SemGroup Corp is headquartered in Tulsa, Oklahoma. “

A number of other brokerages have also issued reports on SEMG. Royal Bank Of Canada decreased their price target on SemGroup Corp from $41.00 to $33.00 and set an outperform rating for the company in a research note on Thursday, June 22nd. Barclays PLC raised SemGroup Corp from an equal weight rating to an overweight rating and set a $36.00 price target for the company in a research note on Tuesday, June 13th. Wells Fargo & Company lowered SemGroup Corp from an outperform rating to a market perform rating in a research note on Monday, July 17th. Morgan Stanley reaffirmed an equal weight rating and set a $32.00 price target (down from $39.00) on shares of SemGroup Corp in a research note on Wednesday, June 21st. Finally, UBS AG reaffirmed a buy rating and set a $42.00 price target (down from $45.00) on shares of SemGroup Corp in a research note on Monday, June 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. SemGroup Corp has an average rating of Hold and an average target price of $34.43.

Shares of SemGroup Corp (SEMG) traded down 2.865% during trading on Thursday, reaching $26.275. The company had a trading volume of 177,983 shares. The stock has a market capitalization of $1.74 billion and a PE ratio of 270.876. SemGroup Corp has a 12 month low of $22.55 and a 12 month high of $43.20. The stock’s 50-day moving average price is $26.04 and its 200-day moving average price is $33.14.

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In related news, Director William J. Mcadam acquired 15,000 shares of SemGroup Corp stock in a transaction dated Wednesday, June 7th. The stock was acquired at an average cost of $28.00 per share, with a total value of $420,000.00. Following the purchase, the director now directly owns 4,077 shares in the company, valued at approximately $114,156. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sarah Morrison Barpoulis sold 1,470 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $31.45, for a total value of $46,231.50. Following the sale, the director now directly owns 13,130 shares of the company’s stock, valued at $412,938.50. The disclosure for this sale can be found here. Over the last three months, insiders have bought 22,324 shares of company stock valued at $611,777.

Large investors have recently added to or reduced their stakes in the company. Eagle Global Advisors LLC raised its stake in SemGroup Corp by 13.0% in the first quarter. Eagle Global Advisors LLC now owns 2,817,927 shares of the company’s stock valued at $101,445,000 after buying an additional 323,623 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SemGroup Corp by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 1,552,483 shares of the company’s stock valued at $55,889,000 after buying an additional 51,743 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in SemGroup Corp by 106.8% in the first quarter. Virginia Retirement Systems ET AL now owns 14,893 shares of the company’s stock valued at $536,000 after buying an additional 7,693 shares in the last quarter. Atlantic Trust Group LLC raised its stake in SemGroup Corp by 7.9% in the first quarter. Atlantic Trust Group LLC now owns 2,447,710 shares of the company’s stock valued at $88,119,000 after buying an additional 178,289 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in SemGroup Corp by 24.5% in the first quarter. Viking Fund Management LLC now owns 463,600 shares of the company’s stock valued at $16,690,000 after buying an additional 91,100 shares in the last quarter.

About SemGroup Corp

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