Sanchez Energy Corporation (SN) Trading 6.9% Higher
Shares of Sanchez Energy Corporation (NYSE:SN) traded up 6.9% during mid-day trading on Wednesday . The stock traded as high as $4.62 and last traded at $4.51. 4,873,314 shares were traded during mid-day trading, an increase of 67% from the average session volume of 2,917,910 shares. The stock had previously closed at $4.22.
Several analysts recently issued reports on the stock. Seaport Global Securities lowered shares of Sanchez Energy Corporation from a “buy” rating to a “sell” rating and reduced their price objective for the company from $15.00 to $5.00 in a report on Wednesday, June 21st. BMO Capital Markets restated a “hold” rating and issued a $5.00 price objective on shares of Sanchez Energy Corporation in a report on Tuesday, June 27th. Royal Bank Of Canada restated a “buy” rating and issued a $10.00 price objective on shares of Sanchez Energy Corporation in a report on Thursday, July 20th. KLR Group restated a “buy” rating and issued a $10.00 price objective (down from $12.00) on shares of Sanchez Energy Corporation in a report on Wednesday, May 17th. Finally, Zacks Investment Research lowered shares of Sanchez Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.63.
The stock’s market capitalization is $345.66 million. The firm’s 50-day moving average is $4.75 and its 200-day moving average is $7.12.
Sanchez Energy Corporation (NYSE:SN) last released its quarterly earnings data on Wednesday, August 9th. The energy producer reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.18). The firm had revenue of $175.70 million during the quarter, compared to the consensus estimate of $178.97 million. Sanchez Energy Corporation’s revenue for the quarter was up 58.3% on a year-over-year basis. During the same quarter last year, the business posted ($3.20) EPS. On average, analysts anticipate that Sanchez Energy Corporation will post ($0.81) earnings per share for the current year.
In other news, VP Kirsten A. Hink sold 38,634 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $5.02, for a total value of $193,942.68. Following the transaction, the vice president now directly owns 178,390 shares in the company, valued at approximately $895,517.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Kirsten A. Hink sold 36,088 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $5.04, for a total value of $181,883.52. Following the completion of the transaction, the chief accounting officer now owns 178,390 shares in the company, valued at $899,085.60. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SN. Teachers Advisors LLC raised its holdings in shares of Sanchez Energy Corporation by 2.9% in the 4th quarter. Teachers Advisors LLC now owns 93,395 shares of the energy producer’s stock worth $843,000 after purchasing an additional 2,646 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Sanchez Energy Corporation by 44.1% in the 1st quarter. Nationwide Fund Advisors now owns 47,013 shares of the energy producer’s stock worth $449,000 after purchasing an additional 14,388 shares during the period. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Sanchez Energy Corporation in the 1st quarter worth about $420,000. Wells Fargo & Company MN raised its holdings in shares of Sanchez Energy Corporation by 64.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,312,670 shares of the energy producer’s stock worth $12,523,000 after purchasing an additional 512,255 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Sanchez Energy Corporation by 5.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 18,000 shares of the energy producer’s stock worth $172,000 after purchasing an additional 900 shares during the period. Institutional investors own 70.44% of the company’s stock.
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About Sanchez Energy Corporation
Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of the United States onshore unconventional oil and natural gas resources. The Company primarily focuses on the Eagle Ford Shale in South Texas. The Company also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
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