ValuEngine cut shares of Sprague Resources (NYSE:SRLP) from a sell rating to a strong sell rating in a research note published on Friday.

SRLP has been the topic of several other research reports. Zacks Investment Research upgraded shares of Sprague Resources from a strong sell rating to a hold rating in a report on Wednesday, January 9th. TheStreet downgraded shares of Sprague Resources from a b rating to a c rating in a report on Thursday, October 11th. Three research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $28.00.

Shares of SRLP opened at $17.50 on Friday. The firm has a market capitalization of $397.85 million, a P/E ratio of 15.49 and a beta of 1.58. Sprague Resources has a one year low of $13.76 and a one year high of $28.00. The company has a current ratio of 1.85, a quick ratio of 1.05 and a debt-to-equity ratio of 4.62.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 13th. Investors of record on Friday, February 8th will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $2.67 annualized dividend and a yield of 15.26%. Sprague Resources’s dividend payout ratio (DPR) is presently 236.28%.

In related news, Director Ben J. Hennelly sold 2,231 shares of Sprague Resources stock in a transaction on Friday, December 7th. The shares were sold at an average price of $16.64, for a total value of $37,123.84. Following the transaction, the director now owns 2,131 shares in the company, valued at approximately $35,459.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its holdings in Sprague Resources by 1.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 70,541 shares of the oil and gas company’s stock worth $1,022,000 after acquiring an additional 1,085 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in Sprague Resources by 29.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 14,894 shares of the oil and gas company’s stock worth $216,000 after acquiring an additional 3,400 shares during the period. Tower Research Capital LLC TRC bought a new position in Sprague Resources in the 2nd quarter worth $101,000. Cohen & Steers Inc. raised its holdings in Sprague Resources by 3.6% in the 3rd quarter. Cohen & Steers Inc. now owns 179,347 shares of the oil and gas company’s stock worth $4,833,000 after acquiring an additional 6,280 shares during the period. Finally, Cardan Capital Partners LLC bought a new position in shares of Sprague Resources during the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

About Sprague Resources

Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.

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