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Barclays Upgrades and Downgrades Same Company -- On Same Day

  • Share count miscalculation prompts reversal on SemGroup Corp.
  • Stock was up 3.4 percent on upgrade; gain halved on re-rating
Photographer: Luke MacGregor/Bloomberg

If only analysts at Barclays had measured twice, perhaps they wouldn’t have had to cut once.

Analyst Christine Cho cut her rating on SemGroup Corp. to equal weight -- normally an unremarkable change for a $1.9 billion company whose stock plunged more than 15 percent over two days last week.