USD Partners LP (USDP) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on May 26, 2016.
USD Partners LP opened for trading at $11.2289 and hit $11.2289 on the upside on Wednesday, eventually ending the session at $11.09, with a gain of 0.54% or 0.06 points. The heightened volatility saw the trading volume jump to 40,911 shares. Company has a market cap of $252 M.
In a different news, on Mar 17, 2016, Paul Leray Tucker (officer ) purchased 1,100 shares at $7.68 per share price. According to the SEC, on Dec 1, 2015, Dan Borgen (director officer ) purchased 5,925 shares at $10.07 per share price. On Jun 10, 2015, Adam K Altsuler (officer ) purchased 500 shares at $11.98 per share price, according to the Form-4 filing with the securities and exchange commission.
USD Partners LP (USD Partners) is a fee-based master limited partnership formed by US Development Group LLC (USD) to acquire develop and operate energy-related rail terminals and other complementary midstream infrastructure assets and businesses. The Company conducts its business through two segments. The Terminalling services segment operates by terminalling and transloading crude oil and biofuels under multi-year fee-based contracts. The Fleet services segment manages a fleet of rail cars. The Company’s assets consist primarily of an origination crude-by-rail terminal in Hardisty Alberta Canada with capacity to load up to two 120-railcar unit trains per day and two destination unit train-capable ethanol rail terminals in San Antonio Texas and West Colton California with a combined capacity of approximately 33000 barrels per day (bpd). The Company provides railcar services through the management of a railcar fleet consisting of approximately 3099 active railcars.