Stone Energy Corp. (SGY) Trading Up 2.7%
Shares of Stone Energy Corp. (NYSE:SGY) were up 2.7% during mid-day trading on Thursday . The stock traded as high as $10.57 and last traded at $10.24, with a volume of 520,892 shares changing hands. The stock had previously closed at $9.97.
Several analysts have issued reports on SGY shares. Howard Weil upped their price target on shares of Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a report on Thursday, June 30th. Zacks Investment Research raised shares of Stone Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a report on Monday, July 11th. National Securities reduced their price target on shares of Stone Energy Corp. from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, May 9th. Imperial Capital downgraded shares of Stone Energy Corp. from an “in-line” rating to an “underperform” rating in a report on Tuesday, April 19th. Finally, Barclays PLC upped their price target on shares of Stone Energy Corp. to $3.00 and gave the company an “equal weight” rating in a report on Wednesday, June 15th. 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. Stone Energy Corp. has an average rating of “Hold” and an average target price of $6.71.
The firm’s 50 day moving average price is $13.53 and its 200-day moving average price is $13.08. The stock’s market capitalization is $56.18 million.
Stone Energy Corp. (NYSE:SGY) last released its earnings results on Tuesday, August 2nd. The company reported ($7.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($6.42) by $1.03. The company earned $89.32 million during the quarter, compared to the consensus estimate of $79.01 million. During the same quarter in the previous year, the business earned ($1.69) EPS. On average, equities research analysts anticipate that Stone Energy Corp. will post ($25.80) earnings per share for the current year.
Other institutional investors recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position 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 valued at $1,376,000 after buying an additional 120,448 shares during the period. Royce & Associates LLC bought a new position in Stone Energy Corp. during the fourth quarter valued at $2,301,000. Finally, California Public Employees Retirement System increased its position 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 valued at $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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