Stone Energy Corp. (SGY) Trading Down 20.4%
Stone Energy Corp. (NYSE:SGY) shares fell 20.4% on Thursday . The stock traded as low as $13.52 and last traded at $14.00, with a volume of 1,972,679 shares traded. The stock had previously closed at $17.58.
Several brokerages recently weighed in on SGY. Zacks Investment Research downgraded Stone Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Howard Weil boosted their target price on Stone Energy Corp. to $17.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 30th. Barclays PLC boosted their target price on Stone Energy Corp. to $3.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 15th. Johnson Rice downgraded Stone Energy Corp. from a “buy” rating to a “hold” rating in a research note on Monday, April 18th. Finally, Imperial Capital downgraded Stone Energy Corp. from an “in-line” rating to an “underperform” rating in a research note on Tuesday, April 19th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.29.
The firm has a 50-day moving average price of $10.81 and a 200-day moving average price of $15.00. The firm’s market capitalization is $73.20 million.
Stone Energy Corp. (NYSE:SGY) last posted its quarterly earnings results 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 business earned $80.68 million during the quarter, compared to the consensus estimate of $72.52 million. Stone Energy Corp.’s quarterly revenue was down 47.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) EPS. Equities analysts forecast that Stone Energy Corp. will post ($25.44) earnings per share for the current fiscal year.
Other hedge funds have bought and sold shares of the company. California Public Employees Retirement System boosted 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 in the last quarter. Royce & Associates LLC acquired a new stake in Stone Energy Corp. during the fourth quarter worth $2,301,000. Finally, BNP Paribas Arbitrage SA boosted 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 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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