Stone Energy Corp. (NYSE:SGY) shares dropped 20.4% during trading on Thursday . The stock traded as low as $13.52 and last traded at $14.00, with a volume of 1,972,679 shares. The stock had previously closed at $17.58.

SGY has been the topic of several analyst reports. Barclays PLC lifted their price objective on Stone Energy Corp. to $3.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 15th. Zacks Investment Research downgraded Stone Energy Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Johnson Rice downgraded Stone Energy Corp. from a “buy” rating to a “hold” rating in a report on Monday, April 18th. FBR & Co downgraded Stone Energy Corp. from an “outperform” rating to a “mkt perform” rating in a report on Wednesday, June 1st. Finally, National Securities decreased their price objective on Stone Energy Corp. from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, May 9th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.29.

The firm’s 50 day moving average is $11.29 and its 200-day moving average is $14.78. The stock’s market cap is $73.08 million.

Stone Energy Corp. (NYSE:SGY) last announced its earnings results on Wednesday, May 4th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by $0.03. During the same quarter last year, the company earned ($0.23) EPS. The firm had revenue of $80.68 million for the quarter, compared to analysts’ expectations of $72.52 million. The company’s quarterly revenue was down 47.4% on a year-over-year basis. Equities analysts anticipate that Stone Energy Corp. will post ($26.01) earnings per share for the current year.

Other hedge funds have made changes to their positions in the company. Royce & Associates LLC acquired a new stake in shares of Stone Energy Corp. during the fourth quarter valued at about $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 valued at $1,376,000 after buying an additional 120,448 shares in the last quarter. Finally, 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 valued at $4,948,000 after buying an additional 78,100 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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