Traders Are Bearish SemGroup Corp (SEMG) After The Stock Formed Bearish Double Bottom

September 17, 2017 - By Henry Gaston

Investors sentiment decreased to 1.32 in Q4 2016. Its down 0.43, from 1.75 in 2016Q3. It worsened, as 34 investors sold SemGroup Corp shares while 50 reduced holdings. 34 funds opened positions while 77 raised stakes. 67.83 million shares or 6.06% more from 63.95 million shares in 2016Q3 were reported.
Western Asset Mngmt Communication has invested 0.24% in SemGroup Corp (NYSE:SEMG). Creative Planning invested in 1,301 shares. 500,288 were accumulated by Highland Cap Mngmt Lp. Great West Life Assurance Company Can has invested 0% in SemGroup Corp (NYSE:SEMG). Tortoise Cap Advisors Ltd Co accumulated 1.83 million shares. Raymond James & Assocs owns 113,199 shares. Zeke Ltd Liability Corp owns 5,232 shares for 0.06% of their portfolio. Proshare Advsrs Ltd Liability Com stated it has 14,829 shares or 0.01% of all its holdings. Deutsche Savings Bank Ag stated it has 117,907 shares or 0% of all its holdings. Jpmorgan Chase And holds 0% in SemGroup Corp (NYSE:SEMG) or 360,796 shares. Geode Management Ltd Liability Co reported 0.01% in SemGroup Corp (NYSE:SEMG). Rockefeller Fin Svcs accumulated 4,745 shares. Miller Howard Invests invested in 10,534 shares or 0.01% of the stock. Citigroup Inc holds 111,842 shares or 0% of its portfolio. Nebraska-based Cwm Lc has invested 0% in SemGroup Corp (NYSE:SEMG).

Since March 22, 2017, it had 4 insider purchases, and 1 insider sale for $734,745 activity. Barpoulis Sarah Morrison also sold $46,232 worth of SemGroup Corp (NYSE:SEMG) on Thursday, June 1. 3,824 SemGroup Corp (NYSE:SEMG) shares with value of $100,112 were bought by Conner Carlin G.. On Thursday, June 8 Fitzgerald Robert N bought $91,665 worth of SemGroup Corp (NYSE:SEMG) or 3,500 shares.

The chart of SemGroup Corp (SEMG) shows a double bottom with $26.54 target or 4.00 % below today’s $27.65 share price. The 8 months chart pattern indicates high risk for the $2.18B company. It was reported on Sep, 17 by Finviz.com. If the $26.54 price target is reached, the company will be worth $87.20 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.72% or $0.2 on September 15, reaching $27.65. About 1.90M shares traded or 80.95% up from the average. SemGroup Corp (NYSE:SEMG) has risen 7.33% since September 17, 2016 and is uptrending. It has underperformed by 9.37% the S&P500.

Wall Street await SemGroup Corp (NYSE:SEMG) to release earnings on November, 6. Analysts forecast EPS of $0.45, up exactly $0.34 or 309.09 % from 2014’s $0.11 EPS. The expected SEMG’s profit could reach $35.48M giving the stock 15.36 P/E in the case that $0.45 earnings per share is reported. After posting $0.15 EPS for the previous quarter, SemGroup Corp’s analysts now forecast 200.00 % EPS growth.

SemGroup Corp (NYSE:SEMG) Ratings Coverage

Among 8 analysts covering SemGroup (NYSE:SEMG), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. SemGroup had 21 analyst reports since August 10, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Monday, June 12 by UBS. On Sunday, July 23 the stock rating was maintained by RBC Capital Markets with “Buy”. Suntrust Robinson initiated SemGroup Corp (NYSE:SEMG) on Wednesday, June 15 with “Buy” rating. The firm has “Overweight” rating given on Wednesday, November 25 by Barclays Capital. The rating was initiated by Citigroup on Thursday, November 3 with “Neutral”. RBC Capital Markets maintained it with “Outperform” rating and $66 target in Wednesday, November 11 report. Wells Fargo initiated SemGroup Corp (NYSE:SEMG) on Monday, December 7 with “Outperform” rating. Barclays Capital upgraded SemGroup Corp (NYSE:SEMG) on Tuesday, June 13 to “Overweight” rating. The stock has “Hold” rating by Wells Fargo on Monday, July 17. Barclays Capital reinitiated the shares of SEMG in report on Tuesday, February 21 with “Equal Weight” rating.

More news for SemGroup Corp (NYSE:SEMG) were recently published by: Seekingalpha.com, which released: “SemGroup: Yielding 6.9% – Is It Worthy Of Consideration?” on September 12, 2017. Globenewswire.com‘s article titled: “SemGroup Corporation Announces Pricing of $300 Million Senior Notes” and published on September 15, 2017 is yet another important article.

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