Stone Energy Corp. (SGY) Sees Unusually-High Trading Volume
Stone Energy Corp. (NYSE:SGY) saw unusually-high trading volume on Friday . Approximately 5,519,512 shares changed hands during mid-day trading, an increase of 310% from the previous session’s volume of 1,345,533 shares.The stock last traded at $14.13 and had previously closed at $12.35.
SGY has been the subject of several analyst reports. National Securities reduced their price objective on Stone Energy Corp. from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, May 9th. Zacks Investment Research raised shares of Stone Energy Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Howard Weil upped their target price on shares of Stone Energy Corp. to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, June 30th. Imperial Capital dropped their target price on shares of Stone Energy Corp. from $8.00 to $6.00 and set an “outperform” rating for the company in a report on Wednesday, June 1st. Finally, FBR & Co downgraded shares of Stone Energy Corp. from an “outperform” rating to a “mkt perform” rating in a report on Wednesday, June 1st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.71.
The firm’s market capitalization is $77.92 million. The company’s 50-day moving average price is $13.62 and its 200 day moving average price is $12.52.
Stone Energy Corp. (NYSE:SGY) last released 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 business had revenue of $89.32 million for the quarter, compared to the consensus estimate of $79.01 million. During the same quarter in the prior year, the company earned ($1.69) earnings per share. On average, analysts expect that Stone Energy Corp. will post ($25.39) earnings per share for the current year.
Other large investors have recently added to or reduced their stakes in the company. 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 valued at $1,376,000 after buying an additional 120,448 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 in the last quarter. Finally, Royce & Associates LLC purchased a new stake in Stone Energy Corp. during the fourth quarter valued at about $2,301,000.
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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