Stone Energy Corp. (SGY) Shares Up 15.7%
Stone Energy Corp. (NYSE:SGY)’s share price shot up 15.7% on Thursday . The company traded as high as $11.22 and last traded at $11.13, with a volume of 948,123 shares. The stock had previously closed at $9.62.
A number of brokerages recently weighed in on SGY. Barclays PLC lifted their target price on shares of Stone Energy Corp. to $3.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 15th. FBR & Co cut shares of Stone Energy Corp. from an “outperform” rating to a “mkt perform” rating in a report on Wednesday, June 1st. Zacks Investment Research cut shares of Stone Energy Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Howard Weil raised their price target on shares of Stone Energy Corp. to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, June 30th. Finally, National Securities reduced their price target on shares of Stone Energy Corp. from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, May 9th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.71.
The stock’s market cap is $68.81 million. The firm has a 50-day moving average of $13.55 and a 200-day moving average of $12.52.
Stone Energy Corp. (NYSE:SGY) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($7.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($6.42) by $1.03. The company had revenue of $89.32 million for the quarter, compared to the consensus estimate of $79.01 million. During the same period last year, the firm posted ($1.69) EPS. On average, equities analysts predict that Stone Energy Corp. will post ($25.39) EPS for the current year.
Several hedge funds and institutional investors have modified their holdings of SGY. BNP Paribas Arbitrage SA raised its position 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stone Energy Corp. by 118.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 489,200 shares of the company’s stock valued at $2,099,000 after buying an additional 264,900 shares during the last quarter. Royce & Associates LLC acquired a new position in shares of Stone Energy Corp. during the fourth quarter valued at about $2,301,000. Finally, California Public Employees Retirement System raised its position 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 during 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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