Semgroup Corporation (SEMG) Shares are Up 8.8%

Semgroup Corporation (SEMG) : Traders are bullish on Semgroup Corporation (SEMG) as it has outperformed the S&P 500 by a wide margin of 14.13% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.62%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.8% in the last 1 week, and is up 13.52% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 7.06% and the 50-Day Moving Average is 12.37%.The 200 Day SMA reached 29.96%

Semgroup

Semgroup Corporation (NYSE:SEMG): After opening at $34.26, the stock dipped to an intraday low of $33.75 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $35.45 and the buying power remained strong till the end. The stock closed at $35.36 for the day, a gain of 5.30% for the day session. The total traded volume was 955,617. The stocks close on the previous trading day was $35.36.

Semgroup Corporation (SEMG) : The highest level Semgroup Corporation (SEMG) is projected to reach is $39 for the short term and the lowest estimate is at $35. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $37 and the possibility the share price can swing is $1.9.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.