OxFORD Asset Management LLP Takes Position in Plains Group Holdings, L.P. (PAGP)

OxFORD Asset Management LLP bought a new stake in shares of Plains Group Holdings, L.P. (NYSE:PAGP) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 56,433 shares of the pipeline company’s stock, valued at approximately $1,476,000.

A number of other institutional investors have also recently bought and sold shares of the business. Penserra Capital Management LLC acquired a new stake in shares of Plains Group Holdings, L.P. in the 2nd quarter worth approximately $103,000. Searle & CO. acquired a new stake in shares of Plains Group Holdings, L.P. in the 2nd quarter worth approximately $209,000. Shell Asset Management Co. lifted its stake in shares of Plains Group Holdings, L.P. by 110.8% in the 2nd quarter. Shell Asset Management Co. now owns 7,994 shares of the pipeline company’s stock worth $209,000 after acquiring an additional 4,202 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Plains Group Holdings, L.P. in the 1st quarter worth approximately $211,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of Plains Group Holdings, L.P. by 481.5% in the 1st quarter. Proficio Capital Partners LLC now owns 7,548 shares of the pipeline company’s stock worth $211,000 after acquiring an additional 6,250 shares during the period. 83.04% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman Greg L. Armstrong bought 50,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average cost of $21.53 per share, for a total transaction of $1,076,500.00. Following the acquisition, the chairman now owns 700,625 shares of the company’s stock, valued at approximately $15,084,456.25. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Richard K. Mcgee bought 2,500 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $21.08 per share, for a total transaction of $52,700.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 72,500 shares of company stock worth $1,554,200 over the last 90 days. Corporate insiders own 39.93% of the company’s stock.

PAGP has been the subject of a number of research analyst reports. Mizuho raised shares of Plains Group Holdings, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, July 10th. BMO Capital Markets raised shares of Plains Group Holdings, L.P. from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $22.00 to $25.00 in a research note on Monday, August 28th. Zacks Investment Research raised shares of Plains Group Holdings, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank AG lowered shares of Plains Group Holdings, L.P. from a “buy” rating to a “hold” rating and reduced their price target for the stock from $35.00 to $29.00 in a research note on Thursday, July 13th. Finally, ValuEngine raised shares of Plains Group Holdings, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.06.

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Shares of Plains Group Holdings, L.P. (PAGP) opened at 21.82 on Wednesday. Plains Group Holdings, L.P. has a 12-month low of $14.44 and a 12-month high of $36.09. The firm’s market cap is $3.35 billion. The stock’s 50 day moving average is $22.16 and its 200-day moving average is $25.85.

Plains Group Holdings, L.P. (NYSE:PAGP) last announced its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). The firm had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Plains Group Holdings, L.P. had a net margin of 0.34% and a return on equity of 0.69%. The business’s revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, analysts anticipate that Plains Group Holdings, L.P. will post $1.09 EPS for the current fiscal year.

Plains Group Holdings, L.P. Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.

Institutional Ownership by Quarter for Plains Group Holdings, L.P. (NYSE:PAGP)

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