Sanchez Energy Corp. (SN) Sees Unusually-High Trading Volume
Shares of Sanchez Energy Corp. (NYSE:SN) saw an uptick in trading volume on Monday . 6,767,538 shares changed hands during trading, an increase of 176% from the previous session’s volume of 2,449,610 shares.The stock last traded at $8.15 and had previously closed at $6.61.
Several brokerages have issued reports on SN. Zacks Investment Research upgraded shares of Sanchez Energy Corp. from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Saturday, July 30th. FBR & Co reiterated a “buy” rating on shares of Sanchez Energy Corp. in a report on Wednesday, July 20th. KLR Group upgraded shares of Sanchez Energy Corp. from a “hold” rating to a “buy” rating and increased their target price for the stock from $8.00 to $9.00 in a report on Monday, July 18th. Piper Jaffray Cos. restated a “neutral” rating and issued a $8.00 price target on shares of Sanchez Energy Corp. in a report on Thursday, July 7th. Finally, National Securities initiated coverage on shares of Sanchez Energy Corp. in a report on Monday, June 27th. They issued a “buy” rating and a $9.00 price target on the stock. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $7.57.
The stock has a 50-day moving average price of $6.70 and a 200-day moving average price of $6.20. The firm’s market capitalization is $450.81 million.
Sanchez Energy Corp. (NYSE:SN) last released its quarterly earnings results on Monday, August 8th. The company reported ($3.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $3.11. The firm earned $111 million during the quarter, compared to analyst estimates of $121.61 million. During the same period in the previous year, the business earned ($0.43) EPS. On average, equities research analysts predict that Sanchez Energy Corp. will post ($0.48) earnings per share for the current fiscal year.
In other Sanchez Energy Corp. news, Director Gilbert A. Garcia sold 7,936 shares of the stock in a transaction 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 transaction, the director now owns 85,251 shares in the company, valued at $686,270.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher Heinson sold 14,264 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $8.12, for a total value of $115,823.68. Following the completion of the transaction, the chief operating officer now owns 605,177 shares of the company’s stock, valued at approximately $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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