Stone Energy Corp. (SGY) Shares Up 6.1%
Shares of Stone Energy Corp. (NYSE:SGY) shot up 6.1% during mid-day trading on Friday . The stock traded as high as $11.60 and last traded at $11.48, with a volume of 680,171 shares. The stock had previously closed at $10.82.
Several research firms have recently issued reports on SGY. Barclays PLC upped their price target on Stone Energy Corp. to $3.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 15th. FBR & Co cut Stone Energy Corp. from an “outperform” rating to a “mkt perform” rating in a research report on Wednesday, June 1st. Zacks Investment Research cut Stone Energy Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Howard Weil boosted their price objective on Stone Energy Corp. to $17.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 30th. Finally, National Securities cut their price objective on Stone Energy Corp. from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, May 9th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.71.
The stock has a 50-day moving average price of $12.09 and a 200 day moving average price of $11.47. The company’s market capitalization is $62.05 million.
Stone Energy Corp. (NYSE:SGY) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($7.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($6.42) by $1.03. The firm earned $89.32 million during the quarter, compared to the consensus estimate of $79.01 million. During the same period last year, the firm earned ($1.69) EPS. Equities analysts predict that Stone Energy Corp. will post ($25.39) earnings per share for the current year.
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.