Equities Analysts Offer Predictions for Stone Energy Corp.’s Q3 2016 Earnings (SGY)
Stone Energy Corp. (NYSE:SGY) – Equities research analysts at FBR & Co cut their Q3 2016 earnings per share estimates for shares of Stone Energy Corp. in a research note issued on Monday. FBR & Co analyst C. Mabry now forecasts that the firm will post earnings per share of ($7.34) for the quarter, down from their prior forecast of ($4.37). FBR & Co also issued estimates for Stone Energy Corp.’s Q4 2016 earnings at ($6.29) EPS, FY2016 earnings at ($28.93) EPS, Q1 2017 earnings at ($5.81) EPS, Q2 2017 earnings at ($5.82) EPS, Q3 2017 earnings at ($5.55) EPS, Q4 2017 earnings at ($5.10) EPS, FY2017 earnings at ($22.24) EPS and FY2018 earnings at ($19.61) EPS.
Stone Energy Corp. (NYSE:SGY) last posted its earnings results on Tuesday, August 2nd. The company reported ($7.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($6.42) by $1.03. Stone Energy Corp. had a negative return on equity of 39.01% and a negative net margin of 241.14%. The firm earned $89.32 million during the quarter, compared to the consensus estimate of $79.01 million. During the same period in the previous year, the company posted ($1.69) EPS.
Several other equities research analysts also recently issued reports on SGY. National Securities reaffirmed a “neutral” rating and set a $7.00 price target on shares of Stone Energy Corp. in a report on Wednesday, August 3rd. Zacks Investment Research downgraded 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 Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a report on Thursday, June 30th. Finally, Barclays PLC raised their price target on Stone Energy Corp. to $3.00 and gave the company an “equal weight” rating in a report on Wednesday, June 15th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.71.
Shares of Stone Energy Corp. (NYSE:SGY) opened at 11.18 on Thursday. The company’s market cap is $62.50 million. The stock has a 50 day moving average of $11.56 and a 200 day moving average of $9.91. Stone Energy Corp. has a 12-month low of $2.70 and a 12-month high of $85.30.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Societe Generale bought a new position in Stone Energy Corp. during the second quarter worth approximately $128,000. Stonehill Capital Management LLC bought a new position in Stone Energy Corp. during the second quarter worth approximately $438,000. Citadel Advisors LLC increased its position in Stone Energy Corp. by 66.9% in the second quarter. Citadel Advisors LLC now owns 60,431 shares of the company’s stock worth $729,000 after buying an additional 24,215 shares during the period. Scoggin Management LP bought a new position in Stone Energy Corp. during the second quarter worth approximately $905,000. Finally, AQR Capital Management LLC increased its position in Stone Energy Corp. by 72.2% in the second quarter. AQR Capital Management LLC now owns 92,906 shares of the company’s stock worth $1,121,000 after buying an additional 38,943 shares during the period. 35.90% of the stock is owned by institutional investors and hedge funds.
Stone Energy Corp. Company Profile
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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