Stone Energy Corp. (SGY) Shares Up 9.3%
Shares of Stone Energy Corp. (NYSE:SGY) shot up 9.3% during mid-day trading on Thursday . The company traded as high as $11.79 and last traded at $11.59, with a volume of 1,080,190 shares. The stock had previously closed at $10.60.
A number of brokerages have recently issued reports on SGY. Zacks Investment Research cut Stone Energy Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Howard Weil boosted their target price on Stone Energy Corp. to $17.00 and gave the stock a “sector perform” rating in a report on Thursday, June 30th. National Securities reiterated a “neutral” rating and set a $7.00 target price on shares of Stone Energy Corp. in a report on Wednesday, August 3rd. Barclays PLC boosted their target price on Stone Energy Corp. to $3.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 15th. Finally, Imperial Capital decreased their target price on Stone Energy Corp. from $8.00 to $6.00 and set an “outperform” rating for the company in a report on Wednesday, June 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Stone Energy Corp. has an average rating of “Hold” and a consensus target price of $6.71.
The stock’s 50-day moving average price is $13.53 and its 200 day moving average price is $11.97. The firm’s market cap is $65.40 million.
Stone Energy Corp. (NYSE:SGY) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($7.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($6.42) by $1.03. During the same quarter last year, the company posted ($1.69) earnings per share. The firm earned $89.32 million during the quarter, compared to analyst estimates of $79.01 million. On average, equities research analysts anticipate that Stone Energy Corp. will post ($25.39) earnings per share for the current year.
A number of hedge funds have added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its stake in Stone Energy Corp. by 24.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 435,705 shares of the company’s stock worth $1,870,000 after buying an additional 85,789 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Stone Energy Corp. by 118.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 489,200 shares of the company’s stock worth $2,099,000 after buying an additional 264,900 shares during the period. Finally, Royce & Associates LLC acquired a new stake in Stone Energy Corp. during the fourth quarter worth about $2,301,000.
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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