In a report released today, Tom Abrams from Morgan Stanley maintained a Hold rating on SemGroup (SEMG), with a price target of $24. The company’s shares closed yesterday at $16.28, close to its 52-week low of $15.46.
According to TipRanks.com, Abrams is a 1-star analyst with an average return of -2.5% and a 48.1% success rate. Abrams covers the Basic Materials sector, focusing on stocks such as Oasis Midstream Partners Lp, Hess Midstream Partners Lp, and Dcp Midstream Partners Lp.
The word on The Street in general, suggests a Hold analyst consensus rating for SemGroup with a $22.80 average price target.
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Based on SemGroup’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $8.46 million. In comparison, last year the company had a GAAP net loss of $19.1 million.
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SemGroup Corp. engages in gathering, transporting, and trading of petroleum products. It operates through the following segments: Crude Transportation; Crude Facilities; Crude Supply and Logistics; HFOTCO; SemGas; and SemCAMS. The Crude Transportation segment manages oil pipelines and truck transportation services.
