Texas Capital Bancshares Inc TX Decreases Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Texas Capital Bancshares Inc TX trimmed its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 33.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the pipeline company's stock after selling 100,000 shares during the quarter. Genesis Energy comprises approximately 1.2% of Texas Capital Bancshares Inc TX's portfolio, making the stock its 13th biggest position. Texas Capital Bancshares Inc TX owned approximately 0.16% of Genesis Energy worth $2,862,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. ELCO Management Co. LLC grew its holdings in shares of Genesis Energy by 10.7% during the second quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company's stock worth $2,695,000 after purchasing an additional 18,170 shares during the last quarter. XTX Topco Ltd grew its stake in Genesis Energy by 40.9% during the 2nd quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company's stock worth $443,000 after buying an additional 8,984 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Genesis Energy during the second quarter worth approximately $1,013,000. Oppenheimer Asset Management Inc. lifted its stake in Genesis Energy by 2.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company's stock valued at $491,000 after buying an additional 887 shares during the last quarter. Finally, Custom Index Systems LLC lifted its stake in Genesis Energy by 0.9% in the second quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company's stock valued at $1,682,000 after buying an additional 1,041 shares during the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Stock Performance

NYSE GEL traded down $0.03 during trading on Friday, reaching $13.08. The company's stock had a trading volume of 235,703 shares, compared to its average volume of 367,127. Genesis Energy, L.P. has a twelve month low of $9.77 and a twelve month high of $15.17. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 38.47 and a beta of 2.10. The business's fifty day moving average price is $13.41 and its 200-day moving average price is $12.93. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The company had revenue of $756.26 million during the quarter. During the same quarter in the previous year, the business earned $0.22 EPS.

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Wednesday, July 31st. Genesis Energy's dividend payout ratio is presently 176.47%.

Insider Activity at Genesis Energy

In other news, VP Garland G. Gaspard acquired 2,261 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the transaction, the vice president now owns 19,525 shares in the company, valued at $259,096.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 5th.

Genesis Energy Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.