Sanchez Energy Corp. (SN) Trading Down 3.2%
Sanchez Energy Corp. (NYSE:SN)’s share price dropped 3.2% during mid-day trading on Thursday . The company traded as low as $6.25 and last traded at $6.27, with a volume of 1,408,876 shares traded. The stock had previously closed at $6.48.
SN has been the subject of a number of recent research reports. Seaport Global Securities cut Sanchez Energy Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, March 30th. Citigroup Inc. cut Sanchez Energy Corp. to a “neutral” rating and increased their target price for the stock from $4.00 to $5.00 in a report on Wednesday, March 30th. Stifel Nicolaus reissued a “hold” rating on shares of Sanchez Energy Corp. in a report on Thursday, March 31st. FBR & Co reaffirmed an “outperform” rating and set a $11.00 price target (up from $9.00) on shares of Sanchez Energy Corp. in a report on Thursday, April 21st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $9.50 price target on shares of Sanchez Energy Corp. in a report on Thursday, April 21st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Sanchez Energy Corp. currently has a consensus rating of “Buy” and an average price target of $7.60.
The company’s market cap is $358.78 million. The stock has a 50-day moving average of $7.30 and a 200-day moving average of $5.93.
Sanchez Energy Corp. (NYSE:SN) last issued its quarterly earnings results on Monday, May 9th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $1.08. The company earned $79.82 million during the quarter, compared to analyst estimates of $127.24 million. During the same period in the prior year, the business posted ($0.97) EPS. The company’s revenue for the quarter was down 28.1% compared to the same quarter last year. Equities research analysts anticipate that Sanchez Energy Corp. will post ($0.45) earnings per share for the current fiscal year.
In related news, Director Gilbert A. Garcia sold 7,936 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $8.05, for a total value of $63,884.80. Following the completion of the sale, the director now directly owns 85,251 shares in the company, valued at $686,270.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Christopher Heinson sold 14,264 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $8.12, for a total value of $115,823.68. Following the completion of the sale, the chief operating officer now owns 605,177 shares of the company’s stock, valued at $4,914,037.24. The disclosure for this sale can be found here.
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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