BlackRock Inc. cut its holdings in shares of Genie Energy Ltd (NYSE:GNE) by 58.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 435,125 shares of the oil and gas producer’s stock after selling 620,320 shares during the period. BlackRock Inc. owned 1.74% of Genie Energy worth $2,158,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Spark Investment Management LLC increased its stake in shares of Genie Energy by 101.9% during the second quarter. Spark Investment Management LLC now owns 41,600 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 21,000 shares during the period. LMR Partners LLP purchased a new position in shares of Genie Energy during the second quarter valued at approximately $210,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Genie Energy during the second quarter valued at approximately $141,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Genie Energy by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 867,238 shares of the oil and gas producer’s stock valued at $4,328,000 after buying an additional 55,724 shares during the period. 15.76% of the stock is currently owned by hedge funds and other institutional investors.
GNE has been the topic of several recent research reports. ValuEngine raised Genie Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. TheStreet raised Genie Energy from a “c+” rating to a “b-” rating in a research note on Monday, November 26th.
GNE stock traded up $0.27 during midday trading on Thursday, hitting $7.44. The stock had a trading volume of 165,819 shares, compared to its average volume of 69,827. The stock has a market cap of $192.66 million, a price-to-earnings ratio of 10.24 and a beta of 1.26. Genie Energy Ltd has a 52-week low of $3.82 and a 52-week high of $7.55. The company has a quick ratio of 1.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.04.
Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.21 earnings per share for the quarter. Genie Energy had a return on equity of 32.68% and a net margin of 3.42%. The company had revenue of $71.84 million for the quarter.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Monday, November 19th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, November 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.03%.
Genie Energy Company Profile
Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Afek Oil and Gas, Ltd.; and Genie Oil and Gas. It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States; and offers energy brokerage and advisory services.
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