Stone Energy Corp. (SGY) Sees Large Volume Increase
Stone Energy Corp. (NYSE:SGY) saw an uptick in trading volume on Wednesday . 2,157,199 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 2,321,316 shares.The stock last traded at $14.51 and had previously closed at $12.02.
A number of research firms have issued reports on SGY. Barclays PLC upped their target price on shares of Stone Energy Corp. to $3.00 and gave the company an “equal weight” rating in a report on Wednesday, June 15th. Zacks Investment Research upgraded shares of Stone Energy Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 5th. Simmons lowered shares of Stone Energy Corp. from a “neutral” rating to an “underweight” rating and set a $2.00 target price on the stock. in a report on Friday, March 11th. FBR & Co lowered shares of Stone Energy Corp. from an “outperform” rating to a “mkt perform” rating in a report on Wednesday, June 1st. Finally, Imperial Capital lowered shares of Stone Energy Corp. from an “in-line” rating to an “underperform” rating in a report on Tuesday, April 19th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $5.19.
The firm’s market cap is $77.10 million. The company’s 50-day moving average is $6.65 and its 200-day moving average is $16.06.
Stone Energy Corp. (NYSE:SGY) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.76) by $0.03. During the same quarter in the prior year, the company earned ($0.23) earnings per share. The company earned $80.68 million during the quarter, compared to analysts’ expectations of $72.52 million. The company’s quarterly revenue was down 47.4% compared to the same quarter last year. Equities research analysts expect that Stone Energy Corp. will post ($23.09) EPS for the current fiscal year.
A number of institutional investors recently modified their holdings of SGY. California Public Employees Retirement System boosted its position in shares of Stone Energy Corp. by 7.3% in the fourth quarter. California Public Employees Retirement System now owns 1,153,287 shares of the company’s stock worth $4,948,000 after buying an additional 78,100 shares in the last quarter. Royce & Associates LLC acquired a new position in Stone Energy Corp. during the fourth quarter valued at $2,301,000. Principal Financial Group Inc. boosted its position in Stone Energy Corp. by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 386,012 shares of the company’s stock valued at $1,656,000 after buying an additional 25,777 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Stone Energy Corp. by 60.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 320,859 shares of the company’s stock valued at $1,376,000 after buying an additional 120,448 shares during the 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.