Trading Report: Today: Seaport Global Securities Begins Coverage on GasLog LP (GLOG)

Today: Seaport Global Securities Begins Coverage on GasLog LP (GLOG)

Seaport Global Securities assumed coverage on shares of GasLog LP (NYSE:GLOG) in a report issued on Wednesday. The firm issued a neutral rating and a $18.00 price objective on the stock.

Several other brokerages have also weighed in on GLOG. Zacks Investment Research upgraded shares of GasLog from a sell rating to a hold rating in a report on Monday, November 7th. Jefferies Group restated a buy rating on shares of GasLog in a report on Tuesday, September 6th. Finally, Citigroup Inc. upped their target price on shares of GasLog from $13.00 to $15.00 and gave the stock a neutral rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $15.00.

GasLog (NYSE:GLOG) opened at 15.95 on Wednesday. The company’s market cap is $1.28 billion. The company’s 50-day moving average price is $16.08 and its 200-day moving average price is $13.95. GasLog has a 12-month low of $5.24 and a 12-month high of $17.20.

GasLog (NYSE:GLOG) last released its earnings results on Thursday, November 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $120.72 million for the quarter, compared to analyst estimates of $120.73 million. GasLog had a negative net margin of 10.57% and a negative return on equity of 0.14%. GasLog’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 24th. Shareholders of record on Monday, November 14th were given a $0.1046 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Wednesday, November 9th. GasLog’s payout ratio is -74.67%.

Large investors have recently modified their holdings of the company. FMR LLC increased its stake in shares of GasLog by 151.1% in the second quarter. FMR LLC now owns 6,527,551 shares of the company’s stock worth $84,728,000 after buying an additional 3,928,344 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of GasLog during the third quarter worth about $13,589,000. Lord Abbett & CO. LLC increased its stake in shares of GasLog by 45.1% in the second quarter. Lord Abbett & CO. LLC now owns 2,428,026 shares of the company’s stock worth $31,516,000 after buying an additional 755,251 shares during the last quarter. Eagle Global Advisors LLC increased its stake in shares of GasLog by 11.8% in the third quarter. Eagle Global Advisors LLC now owns 3,390,596 shares of the company’s stock worth $49,333,000 after buying an additional 358,327 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of GasLog by 194.3% in the second quarter. JPMorgan Chase & Co. now owns 248,515 shares of the company’s stock worth $3,225,000 after buying an additional 164,077 shares during the last quarter. 47.85% of the stock is owned by institutional investors and hedge funds.

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