JPMorgan Chase & Co. Raises Position in Genie Energy Ltd (GNE)

JPMorgan Chase & Co. increased its stake in shares of Genie Energy Ltd (NYSE:GNE) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,917 shares of the oil and gas producer’s stock after buying an additional 18,386 shares during the period. JPMorgan Chase & Co. owned 0.85% of Genie Energy worth $1,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GNE. Schwab Charles Investment Management Inc. lifted its position in Genie Energy by 2.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 30,411 shares of the oil and gas producer’s stock worth $232,000 after buying an additional 700 shares in the last quarter. Rhumbline Advisers lifted its position in Genie Energy by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 16,930 shares of the oil and gas producer’s stock valued at $129,000 after purchasing an additional 138 shares during the period. Bank of New York Mellon Corp lifted its position in Genie Energy by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 133,822 shares of the oil and gas producer’s stock valued at $1,020,000 after purchasing an additional 12,413 shares during the period. Martingale Asset Management L P lifted its position in Genie Energy by 66.3% during the 2nd quarter. Martingale Asset Management L P now owns 64,219 shares of the oil and gas producer’s stock valued at $490,000 after purchasing an additional 25,605 shares during the period. Finally, Nationwide Fund Advisors lifted its position in Genie Energy by 105.0% during the 2nd quarter. Nationwide Fund Advisors now owns 56,425 shares of the oil and gas producer’s stock valued at $430,000 after purchasing an additional 28,900 shares during the period. Institutional investors and hedge funds own 20.60% of the company’s stock.

Genie Energy Ltd (NYSE:GNE) opened at $4.39 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Genie Energy Ltd has a 52-week low of $4.18 and a 52-week high of $8.31. The stock has a market cap of $108.36, a PE ratio of -10.71 and a beta of 2.02.

Genie Energy (NYSE:GNE) last released its earnings results on Thursday, November 2nd. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter. Genie Energy had a negative net margin of 3.62% and a negative return on equity of 15.84%. The company had revenue of $69.47 million for the quarter.

In other Genie Energy news, Director James A. Courter sold 5,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $5.62, for a total transaction of $28,100.00. Following the transaction, the director now directly owns 291,983 shares in the company, valued at approximately $1,640,944.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 31.00% of the company’s stock.

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About Genie Energy

Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc and Residents Energy, Inc, and energy brokerage and marketing services.

Institutional Ownership by Quarter for Genie Energy (NYSE:GNE)

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