Sanchez Energy Corp. (SN) Shares Down 5.6%
Sanchez Energy Corp. (NYSE:SN)’s share price fell 5.6% during mid-day trading on Friday . The company traded as low as $8.54 and last traded at $8.66, with a volume of 1,689,348 shares changing hands. The stock had previously closed at $9.17.
A number of brokerages have issued reports on SN. KLR Group cut shares of Sanchez Energy Corp. from a “buy” rating to an “accumulate” rating and set a $10.00 price objective on the stock. in a research note on Friday. Vetr cut shares of Sanchez Energy Corp. from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a research note on Thursday. National Securities raised their price objective on shares of Sanchez Energy Corp. from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Zacks Investment Research raised shares of Sanchez Energy Corp. from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Saturday, July 30th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Sanchez Energy Corp. in a research note on Wednesday, July 20th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.84.
The stock’s 50 day moving average is $6.92 and its 200 day moving average is $6.48. The firm’s market cap is $514.80 million.
Sanchez Energy Corp. (NYSE:SN) last announced its quarterly earnings results on Monday, August 8th. The company reported ($3.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $3.11. The business had revenue of $111 million for the quarter, compared to analysts’ expectations of $121.61 million. During the same period in the prior year, the business posted ($0.43) EPS. Equities research analysts anticipate that Sanchez Energy Corp. will post ($0.20) earnings per share for the current fiscal year.
In other news, Director Gilbert A. Garcia sold 7,936 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $8.05, for a total transaction of $63,884.80. Following the completion of the sale, the director now directly owns 85,251 shares in the company, valued at $686,270.55. The transaction was disclosed in a filing with the SEC, which is available at this link.
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.