Bank of America Corp DE lowered its position in USD Partners LP (NYSE:USDP) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 834,681 shares of the transportation company’s stock after selling 56,440 shares during the quarter. Bank of America Corp DE owned 3.14% of USD Partners worth $8,723,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in shares of USD Partners by 272.3% in the 3rd quarter. Renaissance Technologies LLC now owns 101,275 shares of the transportation company’s stock valued at $977,000 after acquiring an additional 74,075 shares during the period. Arrow Investment Advisors LLC grew its stake in USD Partners by 10.4% during the 4th quarter. Arrow Investment Advisors LLC now owns 49,491 shares of the transportation company’s stock worth $517,000 after buying an additional 4,647 shares during the last quarter. LPL Financial LLC purchased a new position in USD Partners during the 4th quarter worth $158,000. Usca Ria LLC grew its stake in USD Partners by 26.9% during the 4th quarter. Usca Ria LLC now owns 29,178 shares of the transportation company’s stock worth $305,000 after buying an additional 6,178 shares during the last quarter. Finally, Citigroup Inc. purchased a new position in USD Partners during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.
Shares of USDP stock opened at $10.89 on Tuesday. USD Partners LP has a 1-year low of $9.15 and a 1-year high of $11.75. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 2.96. The firm has a market cap of $291.44 million, a P/E ratio of 14.14 and a beta of 0.43.
USD Partners (NYSE:USDP) last announced its earnings results on Thursday, March 7th. The transportation company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.12). USD Partners had a return on equity of 27.70% and a net margin of 17.72%. The business had revenue of $30.33 million for the quarter. On average, equities research analysts forecast that USD Partners LP will post 0.89 earnings per share for the current fiscal year.
USDP has been the topic of several research analyst reports. ValuEngine upgraded USD Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded USD Partners from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 12th.
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USD Partners Company Profile
USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through two segments, Terminalling Services and Fleet Services. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and terminals in San Antonio, Texas and West Colton, California, which are unit train-capable destination terminals that transload ethanol received by rail from producers onto trucks.
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