Clayton Williams Energy Inc. (CWEI) Rating Lowered to Sell at Zacks Investment Research
Clayton Williams Energy Inc. (NYSE:CWEI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Clayton Williams Energy is an independent oil and gas company engaged in the exploration for and development and production of oil and natural gas primarily in Texas, Louisiana and New Mexico. A significant portion of the company’s proved oil and gas reserves are concentrated in the Cretaceous Trend, which extends from south Texas through east Texas, Louisiana and other southern states and includes the Austin Chalk, Buda, and Georgetown formations. “
Several other equities research analysts have also recently issued reports on the company. Roth Capital upgraded Clayton Williams Energy from a “sell” rating to a “neutral” rating and set a $49.00 price objective on the stock in a report on Tuesday, August 9th. Raymond James Financial Inc. upgraded Clayton Williams Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Northland Securities upgraded Clayton Williams Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, August 4th. Finally, Wunderlich reiterated a “hold” rating and issued a $61.00 target price (up previously from $35.00) on shares of Clayton Williams Energy in a report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.67.
Clayton Williams Energy (NYSE:CWEI) opened at 84.44 on Thursday. The stock has a 50 day moving average price of $74.36 and a 200-day moving average price of $38.30. Clayton Williams Energy has a 12-month low of $6.35 and a 12-month high of $91.63. The stock’s market cap is $1.03 billion.
Clayton Williams Energy (NYSE:CWEI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by $0.42. Clayton Williams Energy had a negative return on equity of 36.30% and a negative net margin of 98.91%. The business had revenue of $42.20 million for the quarter, compared to analyst estimates of $35.62 million. During the same quarter last year, the business earned ($1.05) EPS. Clayton Williams Energy’s revenue for the quarter was down 42.3% compared to the same quarter last year. On average, equities analysts expect that Clayton Williams Energy will post ($9.55) earnings per share for the current year.
In other news, insider Michael L. Pollard sold 3,900 shares of Clayton Williams Energy stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $86.77, for a total transaction of $338,403.00. Following the sale, the insider now directly owns 22,200 shares of the company’s stock, valued at $1,926,294. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ares Management Llc bought 5,051,100 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were acquired at an average cost of $29.70 per share, for a total transaction of $150,017,670.00. The disclosure for this purchase can be found here. Company insiders own 36.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in CWEI. Teachers Advisors Inc. raised its stake in shares of Clayton Williams Energy by 18.5% in the second quarter. Teachers Advisors Inc. now owns 9,734 shares of the company’s stock worth $267,000 after buying an additional 1,519 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Clayton Williams Energy during the second quarter worth about $264,000. D L Carlson Investment Group Inc. acquired a new stake in shares of Clayton Williams Energy during the second quarter worth about $1,866,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of Clayton Williams Energy by 15.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 181,953 shares of the company’s stock worth $4,996,000 after buying an additional 24,131 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Clayton Williams Energy by 12.5% in the second quarter. BlackRock Fund Advisors now owns 154,053 shares of the company’s stock worth $4,230,000 after buying an additional 17,128 shares during the last quarter. 57.50% of the stock is currently owned by institutional investors and hedge funds.
Clayton Williams Energy Company Profile
Clayton Williams Energy, Inc is an oil and gas company engaged in the exploration for and production of oil and natural gas. The Company operates in Texas, Louisiana and New Mexico. Its segments include oil and gas exploration and production, and contract drilling services. It has holdings in approximately two oil shale plays in the United States, which include Wolfcamp Shale in the Southern Delaware Basin of West Texas and the Eagle Ford Shale in the Giddings Area of East Central Texas.
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