Genie Energy Ltd. $GNE Holdings Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of Genie Energy Ltd. (NYSE:GNE) by 36.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,384 shares of the oil and gas producer’s stock after selling 53,461 shares during the quarter. JPMorgan Chase & Co. owned 0.35% of Genie Energy worth $1,381,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP bought a new position in Genie Energy during the third quarter valued at about $35,000. Federated Hermes Inc. boosted its stake in Genie Energy by 168.2% during the third quarter. Federated Hermes Inc. now owns 2,406 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 1,509 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Genie Energy during the first quarter valued at about $85,000. Virtus Advisers LLC bought a new position in Genie Energy during the third quarter valued at about $124,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Genie Energy during the third quarter valued at about $166,000. Institutional investors own 49.15% of the company’s stock.

Genie Energy Stock Up 3.3%

Shares of GNE stock opened at $14.53 on Thursday. The stock’s 50 day simple moving average is $14.18 and its 200 day simple moving average is $14.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.91. Genie Energy Ltd. has a twelve month low of $13.27 and a twelve month high of $28.47. The company has a market capitalization of $384.99 million, a price-to-earnings ratio of 18.16 and a beta of 0.19.

Genie Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 18th. Genie Energy’s dividend payout ratio (DPR) is presently 37.50%.

Wall Street Analyst Weigh In

GNE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Genie Energy in a research report on Thursday, January 22nd. Wall Street Zen lowered Genie Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Genie Energy Profile

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.