Is SemGroup Corp (SEMG) a Sell? The Stock Formed Bearish Double Bottom Chart Pattern

September 12, 2017 - By Marguerite Chambers

Investors sentiment decreased to 1.32 in Q4 2016. Its down 0.43, from 1.75 in 2016Q3. It fall, 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.
Moreover, Pax Management Limited Liability Company has 0.93% invested in SemGroup Corp (NYSE:SEMG) for 390,429 shares. Voya Management Ltd Liability holds 0% or 27,530 shares. Guggenheim Cap Ltd Com holds 77,843 shares or 0.01% of its portfolio. Weiss Asset Mngmt L P has 5,678 shares for 0.04% of their portfolio. Moreover, Goodwin Daniel L has 0.63% invested in SemGroup Corp (NYSE:SEMG). Winslow Evans And Crocker, Massachusetts-based fund reported 300 shares. Solaris Asset Management Ltd Liability Company has invested 0% of its portfolio in SemGroup Corp (NYSE:SEMG). Los Angeles Capital Mngmt Equity Rech Inc reported 15,515 shares. 1,791 are held by Toronto Dominion Bancorp. Blackrock Fund Advsr accumulated 2.13M shares. Brown Advisory reported 0% of its portfolio in SemGroup Corp (NYSE:SEMG). Catalyst Cap Advsrs accumulated 0.31% or 115,706 shares. Amalgamated Savings Bank owns 8,303 shares or 0.02% of their US portfolio. Wells Fargo & Mn holds 0% in SemGroup Corp (NYSE:SEMG) or 273,502 shares. Dimensional Fund Advsrs Lp has invested 0.06% of its portfolio in SemGroup Corp (NYSE:SEMG).

Since March 22, 2017, it had 4 insider buys, and 1 insider sale for $734,745 activity. MCADAM WILLIAM J bought $420,000 worth of stock or 15,000 shares. Fitzgerald Robert N bought 3,500 shares worth $91,665. Shares for $100,112 were bought by Conner Carlin G. on Thursday, June 8.

The chart of SemGroup Corp (SEMG) shows a double bottom with $24.88 target or 7.00 % below today’s $26.75 share price. The 9 months chart pattern indicates high risk for the $2.10B company. It was reported on Sep, 12 by Finviz.com. If the $24.88 price target is reached, the company will be worth $147.00 million less. Double bottoms are rare but powerful chart patterns.

About 192,917 shares traded. SemGroup Corp (NYSE:SEMG) has risen 7.33% since September 12, 2016 and is uptrending. It has underperformed by 9.37% the S&P500.

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 company was upgraded on Tuesday, June 13 by Barclays Capital. The stock has “Neutral” rating by Citigroup on Tuesday, December 15. The firm earned “Outperform” rating on Monday, August 10 by RBC Capital Markets. Citigroup initiated the stock with “Neutral” rating in Thursday, November 3 report. The stock has “Outperform” rating by RBC Capital Markets on Thursday, June 22. The stock of SemGroup Corp (NYSE:SEMG) earned “Outperform” rating by Raymond James on Thursday, September 10. The stock has “Buy” rating by Goldman Sachs on Thursday, August 25. The firm has “Buy” rating by UBS given on Tuesday, August 2. On Monday, July 17 the stock rating was downgraded by Wells Fargo to “Hold”. The firm has “Outperform” rating given on Wednesday, November 11 by RBC Capital Markets.

More recent SemGroup Corp (NYSE:SEMG) news were published by: Nasdaq.com which released: “Top Buys by Top Brass: CEO Conner’s $100.1K Bet on SEMG” on September 11, 2017. Also Seekingalpha.com published the news titled: “SemGroup: Yielding 6.9% – Is It Worthy Of Consideration?” on September 12, 2017. Nasdaq.com‘s news article titled: “Semgroup Corporation (SEMG) Ex-Dividend Date Scheduled for August 16, 2017” with publication date: August 15, 2017 was also an interesting one.

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