Stone Energy Corp. (NYSE:SGY) shares dropped 9.1% during mid-day trading on Tuesday . The company traded as low as $11.60 and last traded at $12.15, with a volume of 1,430,414 shares changing hands. The stock had previously closed at $13.36.

SGY has been the topic of a number of research analyst reports. Piper Jaffray Cos. downgraded Stone Energy Corp. from a “neutral” rating to an “underweight” rating and set a $2.00 price target on the stock. in a report on Friday, March 11th. National Securities reduced their price objective on Stone Energy Corp. from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, May 9th. Zacks Investment Research upgraded Stone Energy Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Simmons cut Stone Energy Corp. from a “neutral” rating to an “underweight” rating and set a $2.00 price objective for the company. in a research report on Friday, March 11th. Finally, Johnson Rice cut Stone Energy Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.19.

The firm has a 50-day moving average price of $6.65 and a 200-day moving average price of $16.06. The firm’s market capitalization is $87.81 million.

Stone Energy Corp. (NYSE:SGY) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.76) by $0.03. The firm earned $80.68 million during the quarter, compared to analysts’ expectations of $72.52 million. Stone Energy Corp.’s quarterly revenue was down 47.4% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. On average, equities research analysts forecast that Stone Energy Corp. will post ($23.09) EPS for the current year.

Several hedge funds have bought and sold shares of the company. Royce & Associates LLC acquired a new stake in Stone Energy Corp. during the fourth quarter worth $2,301,000. BNP Paribas Arbitrage SA boosted its stake in shares of Stone Energy Corp. by 60.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 320,859 shares of the company’s stock worth $1,376,000 after buying an additional 120,448 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Stone Energy Corp. by 7.3% in the fourth quarter. California Public Employees Retirement System now owns 1,153,287 shares of the company’s stock worth $4,948,000 after buying an additional 78,100 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Stone Energy Corp. by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 386,012 shares of the company’s stock worth $1,656,000 after buying an additional 25,777 shares in the last quarter.

Stone Energy Corporation is an independent oil and natural gas company. The Company is engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. The Company operates in the Gulf of Mexico (GOM) basin. It has leveraged its operations in the GOM conventional shelf and has its reserve base in the prolific basins of the GOM deep water, Gulf Coast deep gas, and the Marcellus and Utica shales in Appalachia.

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