Stone Energy Corp. (SGY) Stock Price Down 12%
Stone Energy Corp. (NYSE:SGY)’s share price traded down 12% during trading on Friday . The company traded as low as $19.50 and last traded at $20.23, with a volume of 1,665,622 shares changing hands. The stock had previously closed at $23.00.
A number of equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Stone Energy Corp. from a “buy” rating to a “hold” rating in a report on Wednesday. Howard Weil lifted their target price on shares of Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a report on Thursday, June 30th. Barclays PLC lifted their price objective on shares of Stone Energy Corp. to $3.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 15th. Johnson Rice lowered shares of Stone Energy Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. Finally, Imperial Capital lowered shares of Stone Energy Corp. from an “in-line” rating to an “underperform” rating in a research report on Tuesday, April 19th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Stone Energy Corp. has a consensus rating of “Hold” and a consensus target price of $6.29.
The company has a 50 day moving average of $9.43 and a 200-day moving average of $15.60. The firm’s market cap is $107.84 million.
Stone Energy Corp. (NYSE:SGY) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.76) by $0.03. The business earned $80.68 million during the quarter, compared to analysts’ expectations of $72.52 million. The company’s revenue for the quarter was down 47.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) EPS. Equities research analysts anticipate that Stone Energy Corp. will post ($25.44) earnings per share for the current fiscal year.
Other large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in 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 during the period. Royce & Associates LLC purchased a new stake in Stone Energy Corp. during the fourth quarter worth $2,301,000. Finally, California Public Employees Retirement System increased its stake in 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 during the period.
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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