Oppenheimerfunds, Inc. is Buying Genesis Energy Lp (NYSE:GEL)


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Genesis Energy Lp (NYSE:GEL) reported that Oppenheimerfunds, Inc.
has picked up 14,212,229 of common stock as of 2017-05-01.

The acquisition brings the aggregate amount owned by Oppenheimerfunds, Inc.
to a total of 14,212,229 representing less than 11.66% stake in the company.

For those not familiar with the company, Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico. The Refinery Services segment is involved in the processing of high sulfur (or sour) gas streams as part of refining operations to remove the sulfur and selling the related by-product, sodium hydrosulfide (NaHS). The Marine Transportation segment provides waterborne transportation of petroleum products and crude oil throughout North America. The Supply and Logistics segment is engaged in terminaling, blending, storing, marketing, and transporting crude oil and petroleum products (fuel oil, asphalt and other heavy refined products) and carbon dioxide.

A glance at Genesis Energy Lp (NYSE:GEL)’s key stats reveals a current market capitalization of 3.78 Billion based on 121.94 Million shares outstanding and a price at last close of $31.22 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2010-03-30, Robertson picked up 3,000 at a purchase price of $19.47. This brings their total holding to 1,590,039 as of the date of the filing.

On the sell side, the most recent transaction saw Davison unload 265,000 shares at a sale price of $51.61. This brings their total holding to 2,264,17.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Genesis Energy Lp (NYSE:GEL) as things move forward to see if its progress aligns with these transactions.

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