Sanchez Energy Corp. (SN) Trading 13.9% Higher
Sanchez Energy Corp. (NYSE:SN) traded up 13.9% on Tuesday . The company traded as high as $7.09 and last traded at $7.04, with a volume of 2,396,517 shares trading hands. The stock had previously closed at $6.18.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Sanchez Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Sanchez Energy Corp. in a research note on Thursday, July 7th. National Securities assumed coverage on Sanchez Energy Corp. in a research note on Monday, June 27th. They issued a “buy” rating and a $9.00 price objective for the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Sanchez Energy Corp. in a research note on Saturday, May 14th. Finally, KLR Group cut Sanchez Energy Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $8.00 in a research note on Wednesday, May 11th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.53.
The stock’s market capitalization is $384.41 million. The firm’s 50 day moving average is $7.63 and its 200-day moving average is $5.85.
Sanchez Energy Corp. (NYSE:SN) last released its quarterly earnings results on Monday, May 9th. The company reported ($1.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $1.08. The firm earned $79.82 million during the quarter, compared to the consensus estimate of $127.24 million. During the same quarter in the previous year, the business posted ($0.97) earnings per share. The company’s revenue was down 28.1% on a year-over-year basis. On average, analysts anticipate that Sanchez Energy Corp. will post ($0.46) earnings per share for the current fiscal year.
In related news, COO Christopher Heinson sold 14,264 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $8.12, for a total transaction of $115,823.68. Following the transaction, the chief operating officer now owns 605,177 shares in the company, valued at $4,914,037.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert A. Garcia sold 7,936 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $8.05, for a total transaction of $63,884.80. Following the transaction, the director now owns 85,251 shares in the company, valued at approximately $686,270.55. The disclosure for this sale can be found here.
Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the onshore United States Gulf Coast. The Company focuses on the Eagle Ford Shale in South Texas and the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
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