Eagle Global Advisors LLC acquired a new position in Genie Energy Ltd. (NYSE:GNE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,520 shares of the oil and gas producer’s stock, valued at approximately $111,000. Eagle Global Advisors LLC owned approximately 0.06% of Genie Energy as of its most recent filing with the SEC.
Separately, Strs Ohio bought a new stake in shares of Genie Energy during the second quarter worth $187,000. 18.77% of the stock is currently owned by institutional investors.
Shares of Genie Energy Ltd. (NYSE:GNE) traded down 1.20% during midday trading on Friday, hitting $5.75. 69,319 shares of the stock were exchanged. The firm’s 50-day moving average is $6.55 and its 200-day moving average is $6.82. Genie Energy Ltd. has a 12 month low of $5.07 and a 12 month high of $8.31. The stock’s market cap is $141.89 million.
Genie Energy (NYSE:GNE) last issued its earnings results on Thursday, August 3rd. The oil and gas producer reported ($0.50) earnings per share (EPS) for the quarter. Genie Energy had a negative return on equity of 25.81% and a negative net margin of 18.10%. The business had revenue of $52.21 million for the quarter. Equities research analysts predict that Genie Energy Ltd. will post ($0.77) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Tuesday, August 15th will be issued a $0.075 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.30 dividend on an annualized basis and a yield of 5.22%. Genie Energy’s payout ratio is -16.22%.
Separately, TheStreet upgraded shares of Genie Energy from a “d” rating to a “c-” rating in a research note on Wednesday, May 3rd.
In other news, Director James A. Courter sold 5,000 shares of Genie Energy stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $7.76, for a total value of $38,800.00. Following the sale, the director now owns 336,983 shares in the company, valued at $2,614,988.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Avi Goldin sold 8,500 shares of Genie Energy stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $6.21, for a total transaction of $52,785.00. Following the completion of the sale, the chief financial officer now owns 24,765 shares in the company, valued at approximately $153,790.65. The disclosure for this sale can be found here. Insiders sold 38,500 shares of company stock valued at $264,435 in the last ninety days. 31.00% of the stock is owned by corporate insiders.
About Genie Energy
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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