Stone Energy Corp. (SGY) Sees Large Volume Increase
Shares of Stone Energy Corp. (NYSE:SGY) saw unusually-strong trading volume on Friday . Approximately 5,519,512 shares traded hands during 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.
Several analysts have recently weighed in on SGY shares. Imperial Capital decreased their target price on Stone Energy Corp. from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Wednesday, June 1st. National Securities restated a “neutral” rating and issued a $7.00 price objective on shares of Stone Energy Corp. in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Stone Energy Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Howard Weil lifted their price objective on Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a report on Thursday, June 30th. Finally, FBR & Co downgraded 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 issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $6.71.
The firm’s market cap is $77.92 million. The firm has a 50 day moving average price of $13.68 and a 200 day moving average price of $12.43.
Stone Energy Corp. (NYSE:SGY) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($7.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.42) by $1.03. The firm earned $89.32 million during the quarter, compared to analyst estimates of $79.01 million. During the same period in the previous year, the company posted ($1.69) EPS. Equities research analysts forecast that Stone Energy Corp. will post ($25.39) EPS for the current fiscal year.
An institutional investor recently raised its position in Stone Energy Corp. stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Stone Energy Corp. (NYSE:SGY) by 118.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 489,200 shares of the company’s stock after buying an additional 264,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.88% of Stone Energy Corp. worth $2,099,000 as of its most recent filing with the SEC.
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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