Genesis Energy L.P. (GEL) : Wednesdays money flow analysis of Genesis Energy L.P. (GEL) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $15.94 million. In comparison, the inflow of money on upticks was a meager $10.67 million. The dollar value of composite uptick trades minus the downtick trades was negative $5.27 million. The uptick to downtick ratio of 0.67 in the money flow shows weakness. The uptick block trades were valued at $0.41 million. The downtick transaction value was high at $6.39 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.06. Hence, the net money flow in the stock was negative ($5.98 million). Genesis Energy L.P. (GEL) gained $0.18 at $40.62, a change of 0.45% over the previous days close.
Also, Citigroup upgrades their rating on the shares of Genesis Energy L.P. (NYSE:GEL). The current rating of the shares is Buy. Earlier, the shares were rated a Neutral by the brokerage firm. Equity Analysts at the Firm lowers the price target to $46 per share from $48 per share. The rating by the firm was issued on July 1, 2016.
Genesis Energy L.P. (NYSE:GEL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $40.44 and $39.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $40.90, notching a gain of 1.14% for the day. The total traded volume was 1,395,907 . The stock had closed at $40.44 on the previous day.
The stock has recorded a 20-day Moving Average of 6.08% and the 50-Day Moving Average is 8.32%. In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Genesis Energy Lp, Taylor Jack T had purchased shares worth of $247,700 in a transaction dated on February 29, 2016. A total of 10,000 shares were purchased at a price of $24.77 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Genesis Energy, L.P. (Genesis) is a master limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States and the Gulf of Mexico. The Company operates through five segments: Onshore Pipeline Transportation, Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Onshore Pipeline Transportation segment is engaged in transporting crude oil and carbon dioxide. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil in the Gulf of Mexico. The Refinery Services segment provides services to refining operations primarily in Texas, Louisiana, Arkansas, Oklahoma and Utah. The Marine Transportation segment provides waterborne transportation of petroleum products and crude oil throughout North America. The Supply and Logistics segment provides supply and logistics services for crude oil and petroleum products, and carbon dioxide.