B. Riley set a $29.00 price objective on Sprague Resources (NYSE:SRLP) in a report released on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages also recently commented on SRLP. BidaskClub raised Sprague Resources from a sell rating to a hold rating in a research report on Friday, October 6th. Zacks Investment Research raised Sprague Resources from a strong sell rating to a hold rating in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $31.67.

Shares of Sprague Resources (NYSE SRLP) traded up $0.05 during trading hours on Monday, hitting $24.05. The stock had a trading volume of 24,200 shares, compared to its average volume of 37,913. The stock has a market capitalization of $541.27, a P/E ratio of 13.41 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.16 and a current ratio of 2.35. Sprague Resources has a twelve month low of $22.95 and a twelve month high of $30.75.

Institutional investors have recently modified their holdings of the stock. Virtu KCG Holdings LLC acquired a new position in Sprague Resources in the second quarter valued at $255,000. Advantus Capital Management Inc boosted its holdings in Sprague Resources by 41.2% in the third quarter. Advantus Capital Management Inc now owns 62,340 shares of the oil and gas company’s stock valued at $1,534,000 after acquiring an additional 18,200 shares during the last quarter. Friedberg Investment Management boosted its holdings in Sprague Resources by 597.3% in the second quarter. Friedberg Investment Management now owns 57,879 shares of the oil and gas company’s stock valued at $1,632,000 after acquiring an additional 49,579 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Sprague Resources by 11.3% in the first quarter. Renaissance Technologies LLC now owns 48,927 shares of the oil and gas company’s stock valued at $1,326,000 after acquiring an additional 4,963 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Sprague Resources by 10.1% in the third quarter. Janney Montgomery Scott LLC now owns 66,360 shares of the oil and gas company’s stock valued at $1,632,000 after acquiring an additional 6,105 shares during the last quarter. Hedge funds and other institutional investors own 22.29% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/12/22/b-riley-analysts-give-sprague-resources-srlp-a-29-00-price-target.html.

About Sprague Resources

Receive News & Ratings for Sprague Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprague Resources and related companies with MarketBeat.com's FREE daily email newsletter.