Stone Energy Corp. (NYSE:SGY) shares fell 7.5% during mid-day trading on Monday . The stock traded as low as $12.04 and last traded at $12.90, with a volume of 1,229,442 shares. The stock had previously closed at $13.94.

Several research firms have issued reports on SGY. Zacks Investment Research lowered Stone Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Howard Weil increased their price objective on Stone Energy Corp. to $17.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 30th. National Securities reiterated a “neutral” rating and set a $7.00 price objective on shares of Stone Energy Corp. in a research note on Wednesday, August 3rd. Barclays PLC increased their price objective on Stone Energy Corp. to $3.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 15th. Finally, Imperial Capital dropped their price objective on Stone Energy Corp. from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, June 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $6.71.

The company has a 50 day moving average of $13.57 and a 200 day moving average of $11.98. The firm’s market cap is $60.79 million.

Stone Energy Corp. (NYSE:SGY) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($7.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($6.42) by $1.03. The firm earned $89.32 million during the quarter, compared to analysts’ expectations of $79.01 million. During the same period in the prior year, the firm earned ($1.69) earnings per share. On average, equities analysts expect 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. increased its position in Stone Energy Corp. (NYSE:SGY) by 118.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.88% of Stone Energy Corp. worth $2,099,000 at the end of the most recent reporting 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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