Stone Energy Corp. (NYSE:SGY) was downgraded by stock analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating in a report issued on Monday. They currently have a $3.00 target price on the stock. Barclays PLC’s price target would indicate a potential downside of 67.95% from the stock’s current price.
Several other equities analysts also recently commented on SGY. Howard Weil increased their target price on Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a research report on Thursday, June 30th. Zacks Investment Research upgraded Stone Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Monday, July 11th. Finally, National Securities reiterated a “neutral” rating and issued a $7.00 target price on shares of Stone Energy Corp. in a research report on Wednesday, August 3rd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Stone Energy Corp. presently has a consensus rating of “Hold” and an average target price of $6.71.
Shares of Stone Energy Corp. (NYSE:SGY) opened at 9.36 on Monday. Stone Energy Corp. has a 1-year low of $2.70 and a 1-year high of $78.00. The firm has a 50-day moving average price of $11.33 and a 200 day moving average price of $9.98. The company’s market cap is $52.32 million.
Stone Energy Corp. (NYSE:SGY) last posted its earnings results on Tuesday, August 2nd. The company reported ($7.45) EPS for the quarter, missing the 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. Stone Energy Corp. had a negative net margin of 241.14% and a negative return on equity of 39.01%. During the same quarter in the prior year, the business posted ($1.69) earnings per share. On average, equities analysts anticipate that Stone Energy Corp. will post ($0.06) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the stock. Spark Investment Management LLC acquired a new stake in shares of Stone Energy Corp. during the first quarter valued at approximately $300,000. Geode Capital Management LLC increased its stake in shares of Stone Energy Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 343,674 shares of the company’s stock valued at $271,000 after buying an additional 2,896 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Stone Energy Corp. during the first quarter valued at approximately $188,000. A.R.T. Advisors LLC increased its stake in shares of Stone Energy Corp. by 3,620.8% in the first quarter. A.R.T. Advisors LLC now owns 958,410 shares of the company’s stock valued at $757,000 after buying an additional 932,652 shares in the last quarter. Finally, Societe Generale acquired a new stake in shares of Stone Energy Corp. during the second quarter valued at approximately $128,000. Institutional investors and hedge funds own 35.85% of the company’s stock.
About Stone Energy Corp.
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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