Stone Energy Corp. (SGY) Downgraded by Barclays PLC to “Underweight”
Barclays PLC lowered shares of Stone Energy Corp. (NYSE:SGY) from an equal weight rating to an underweight rating in a research report report published on Monday. They currently have $3.00 target price on the stock.
Several other research analysts have also recently issued reports on the stock. National Securities reiterated 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 cut shares of Stone Energy Corp. from a buy rating to a hold rating in a report on Wednesday, July 13th. Finally, Howard Weil increased their price objective on shares of Stone Energy Corp. to $17.00 and gave the company a sector perform rating in a report on Thursday, June 30th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $6.71.
Stone Energy Corp. (NYSE:SGY) traded up 1.95% during mid-day trading on Monday, reaching $9.43. 57,367 shares of the company’s stock traded hands. The company’s market capitalization is $52.71 million. The company has a 50-day moving average of $11.39 and a 200-day moving average of $9.96. Stone Energy Corp. has a 52-week low of $2.70 and a 52-week high of $78.00.
Stone Energy Corp. (NYSE:SGY) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($7.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.42) by $1.03. The company earned $89.32 million during the quarter, compared to the consensus estimate of $79.01 million. Stone Energy Corp. had a negative net margin of 241.14% and a negative return on equity of 39.01%. During the same quarter last year, the business earned ($1.69) earnings per share. Equities research analysts expect that Stone Energy Corp. will post ($0.06) EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Spark Investment Management LLC bought a new stake in Stone Energy Corp. during the first quarter worth about $300,000. Geode Capital Management LLC increased its stake in Stone Energy Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 343,674 shares of the company’s stock worth $271,000 after buying an additional 2,896 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Stone Energy Corp. during the first quarter worth about $188,000. A.R.T. Advisors LLC increased its stake in Stone Energy Corp. by 3,620.8% in the first quarter. A.R.T. Advisors LLC now owns 958,410 shares of the company’s stock worth $757,000 after buying an additional 932,652 shares during the last quarter. Finally, Societe Generale bought a new stake in Stone Energy Corp. during the second quarter worth about $128,000. Institutional investors own 35.85% of the company’s stock.
About Stone Energy Corp.
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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