Sanchez Energy Corp. (SN) Position Increased by Ameriprise Financial Inc.
Ameriprise Financial Inc. raised its stake in shares of Sanchez Energy Corp. (NYSE:SN) by 58.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 772,110 shares of the company’s stock after buying an additional 285,183 shares during the period. Ameriprise Financial Inc. owned 1.33% of Sanchez Energy Corp. worth $5,452,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Baker Avenue Asset Management LP boosted its position in Sanchez Energy Corp. by 36.7% in the first quarter. Baker Avenue Asset Management LP now owns 100,650 shares of the company’s stock valued at $553,000 after buying an additional 27,000 shares during the last quarter. Geode Capital Management LLC boosted its position in Sanchez Energy Corp. by 12.6% in the first quarter. Geode Capital Management LLC now owns 363,090 shares of the company’s stock valued at $1,993,000 after buying an additional 40,612 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Sanchez Energy Corp. during the first quarter valued at $2,856,000. Fox Run Management L.L.C. purchased a new position in Sanchez Energy Corp. during the second quarter valued at $306,000. Finally, Parkwood LLC purchased a new position in Sanchez Energy Corp. during the second quarter valued at $939,000. Institutional investors and hedge funds own 58.86% of the company’s stock.
Sanchez Energy Corp. (NYSE:SN) traded down 1.913% on Friday, reaching $7.435. The company had a trading volume of 502,874 shares. The firm’s market capitalization is $435.45 million. The company’s 50-day moving average price is $8.54 and its 200 day moving average price is $7.68. Sanchez Energy Corp. has a 1-year low of $2.06 and a 1-year high of $9.83.
Sanchez Energy Corp. (NYSE:SN) last posted its quarterly earnings results on Monday, August 8th. The company reported ($3.20) EPS for the quarter, missing the consensus estimate of ($0.09) by $3.11. The business had revenue of $111 million for the quarter, compared to the consensus estimate of $121.61 million. During the same quarter last year, the firm posted ($0.43) earnings per share. On average, equities analysts forecast that Sanchez Energy Corp. will post ($0.23) EPS for the current year.
Several equities analysts have recently weighed in on SN shares. KLR Group cut Sanchez Energy Corp. from a “buy” rating to an “accumulate” rating and set a $10.00 price target on the stock. in a report on Friday, August 19th. Zacks Investment Research cut Sanchez Energy Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Vetr cut Sanchez Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $9.00 target price on the stock. in a report on Friday, August 12th. National Securities raised their target price on Sanchez Energy Corp. from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Sanchez Energy Corp. in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.03.
Sanchez Energy Corp. Company Profile
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.
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