SemGroup Corp (SEMG) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.12. The company posted revenue of $287.40 million in the period, compared to analysts expectations of $351.15 million. The company’s revenue was down -23.8% compared to the same quarter last year.
Many Wall Street Analysts have commented on SemGroup Corp. SemGroup Corp was Initiated by SunTrust to “Buy” on Jun 15, 2016. Company shares were Reiterated by RBC Capital Mkts on May 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 39 from a previous price target of $30 .
SemGroup Corp opened for trading at $28.55 and hit $29.55 on the upside on Tusday, eventually ending the session at $28.52, with a gain of 0.49% or 0.14 points. The heightened volatility saw the trading volume jump to 10,76,025 shares. Company has a market cap of $1,260 M.
In a different news, on Jul 1, 2015, Robert N Fitzgerald (SVP and CFO) sold 3,500 shares at $79.46 per share price. According to the SEC, on Jun 15, 2015, Sarah Morrison Barpoulis (director) sold 590 shares at $77.81 per share price.
SemGroup Corporation is a provider of gathering transportation storage distribution marketing and other midstream services primarily to independent producers refiners of petroleum products and other market participants located in the Midwest and Rocky Mountain regions of the United States and Canada. The Company also maintains and operates storage terminal and marine facilities at Milford Haven in the United Kingdom that enable customers to supply petroleum products to markets in the Atlantic Basin. It also operates a network of liquid asphalt cement terminals throughout Mexico. The Company conducts its operations through six segments: Crude SemStream SemLogistics SemCAMS SemMexico and SemGas.