James A. Courter Sells 5,000 Shares of Genie Energy Ltd. (GNE) Stock
Genie Energy Ltd. (NYSE:GNE) Director James A. Courter sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $6.03, for a total transaction of $30,150.00. Following the completion of the sale, the director now owns 306,983 shares of the company’s stock, valued at approximately $1,851,107.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Genie Energy Ltd. (NYSE:GNE) traded up 0.84% during mid-day trading on Wednesday, hitting $6.03. 33,429 shares of the company were exchanged. The company’s market capitalization is $148.80 million. The company’s 50-day moving average is $6.16 and its 200 day moving average is $6.87. Genie Energy Ltd. has a 12-month low of $5.07 and a 12-month high of $8.31.
Genie Energy (NYSE:GNE) last announced its earnings results on Thursday, August 3rd. The oil and gas producer reported ($0.50) earnings per share for the quarter. Genie Energy had a negative return on equity of 25.81% and a negative net margin of 18.10%. The firm had revenue of $52.21 million for the quarter. Analysts expect that Genie Energy Ltd. will post ($0.77) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Tuesday, August 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend was Friday, August 11th. Genie Energy’s dividend payout ratio is presently -16.22%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in Genie Energy by 21.1% during the second quarter. State Street Corp now owns 180,427 shares of the oil and gas producer’s stock worth $1,375,000 after buying an additional 31,379 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Genie Energy by 62.6% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 22,797 shares of the oil and gas producer’s stock worth $173,000 after buying an additional 8,777 shares during the last quarter. PDT Partners LLC bought a new position in Genie Energy during the second quarter worth $159,000. Dimensional Fund Advisors LP raised its stake in Genie Energy by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 757,161 shares of the oil and gas producer’s stock worth $5,770,000 after buying an additional 35,345 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Genie Energy by 12.3% during the second quarter. Vanguard Group Inc. now owns 666,711 shares of the oil and gas producer’s stock worth $5,080,000 after buying an additional 73,246 shares during the last quarter. 20.70% of the stock is owned by institutional investors and hedge funds.
Separately, TheStreet cut shares of Genie Energy from a “c-” rating to a “d+” rating in a research report on Thursday, August 3rd.
Genie Energy Company Profile
Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc and Residents Energy, Inc, and energy brokerage and marketing services.
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