USD Partners LP (NYSE:USDP) Short Interest Up 87.7% in October

USD Partners LP (NYSE:USDP) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 30,600 shares, an increase of 87.7% from the September 30th total of 16,300 shares. Based on an average daily volume of 45,400 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the company’s stock are sold short.

Shares of NYSE USDP traded up $0.04 during mid-day trading on Friday, hitting $9.65. The stock had a trading volume of 1,514 shares, compared to its average volume of 46,516. The company has a debt-to-equity ratio of 4.71, a quick ratio of 0.97 and a current ratio of 0.93. The company has a 50 day moving average of $10.00 and a two-hundred day moving average of $10.71. USD Partners has a twelve month low of $8.86 and a twelve month high of $11.95. The firm has a market cap of $264.25 million, a PE ratio of 12.55 and a beta of 0.46.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 15.23%. The ex-dividend date was Friday, November 1st. USD Partners’s payout ratio is 190.91%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded USD Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. ValuEngine raised USD Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its position in shares of USD Partners by 56,200.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,378 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 3,372 shares during the period. Griffin Asset Management Inc. acquired a new position in shares of USD Partners in the 2nd quarter valued at $62,000. California Public Employees Retirement System increased its position in shares of USD Partners by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 158,700 shares of the transportation company’s stock valued at $1,658,000 after acquiring an additional 8,700 shares during the period. Renaissance Technologies LLC increased its position in shares of USD Partners by 49.3% in the 2nd quarter. Renaissance Technologies LLC now owns 91,800 shares of the transportation company’s stock valued at $1,036,000 after acquiring an additional 30,300 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of USD Partners by 138.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 66,669 shares of the transportation company’s stock valued at $753,000 after acquiring an additional 38,756 shares during the period. 20.57% of the stock is currently owned by hedge funds and other institutional investors.

About USD Partners

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.

Further Reading: Limitations of analyzing profit margin

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