Sanchez Energy Corp. (SN) Shares Up 6.8%
Shares of Sanchez Energy Corp. (NYSE:SN) shot up 6.8% during trading on Wednesday . The stock traded as high as $6.30 and last traded at $6.29, with a volume of 2,334,165 shares trading hands. The stock had previously closed at $5.89.
Several research firms have commented on SN. Credit Suisse Group AG restated a “buy” rating on shares of Sanchez Energy Corp. in a report on Saturday, May 14th. Zacks Investment Research raised Sanchez Energy Corp. from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Thursday, May 19th. FBR & Co reaffirmed an “outperform” rating and issued a $11.00 price objective (up from $9.00) on shares of Sanchez Energy Corp. in a research note on Thursday, April 21st. 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. Finally, 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 on the stock. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $7.57.
The firm’s 50 day moving average price is $6.76 and its 200 day moving average price is $6.10. The stock’s market capitalization is $366.35 million.
Sanchez Energy Corp. (NYSE:SN) last issued its earnings results on Monday, May 9th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $1.08. During the same quarter in the prior year, the firm posted ($0.97) earnings per share. The business earned $79.82 million during the quarter, compared to the consensus estimate of $127.24 million. Sanchez Energy Corp.’s revenue was down 28.1% on a year-over-year basis. Analysts predict that Sanchez Energy Corp. will post ($0.48) earnings per share for the current fiscal year.
In other news, COO Christopher Heinson sold 14,264 shares of the stock in a transaction dated Wednesday, May 11th. The stock was 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 of the company’s stock, valued at approximately $4,914,037.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gilbert A. Garcia sold 7,936 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $8.05, for a total value of $63,884.80. Following the transaction, the director now directly 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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