Clayton Williams Energy Inc. (CWEI) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Clayton Williams Energy is an independent oil and gas company engaged in the exploration for and development and production of oil and natural gas primarily in Texas, Louisiana and New Mexico. A significant portion of the company’s proved oil and gas reserves are concentrated in the Cretaceous Trend, which extends from south Texas through east Texas, Louisiana and other southern states and includes the Austin Chalk, Buda, and Georgetown formations. “
A number of other brokerages have also commented on CWEI. Wunderlich reiterated a hold rating and issued a $61.00 price objective (up from $35.00) on shares of Clayton Williams Energy in a research report on Monday, September 19th. Raymond James Financial Inc. upgraded Clayton Williams Energy from an underperform rating to a market perform rating in a research report on Wednesday, July 27th. Northland Securities upgraded Clayton Williams Energy from a market perform rating to an outperform rating in a research report on Thursday, August 4th. Finally, Roth Capital decreased their price objective on Clayton Williams Energy from $12.00 to $8.00 and set a sell rating on the stock in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Clayton Williams Energy presently has a consensus rating of Hold and an average target price of $24.67.
Shares of Clayton Williams Energy (NYSE:CWEI) traded down 2.30% during midday trading on Thursday, hitting $84.38. The company had a trading volume of 260,112 shares. The stock’s 50-day moving average price is $73.74 and its 200-day moving average price is $37.76. The company’s market cap is $1.03 billion. Clayton Williams Energy has a 12 month low of $6.35 and a 12 month high of $91.63.
Clayton Williams Energy (NYSE:CWEI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($2.82) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.40) by $0.42. The firm earned $42.20 million during the quarter, compared to the consensus estimate of $35.62 million. Clayton Williams Energy had a negative net margin of 98.91% and a negative return on equity of 36.30%. The firm’s quarterly revenue was down 42.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.05) earnings per share. On average, equities research analysts forecast that Clayton Williams Energy will post ($9.55) EPS for the current year.
In related news, Director Ares Management Llc bought 5,051,100 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $29.70 per share, with a total value of $150,017,670.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Davis L. Ford sold 9,341 shares of Clayton Williams Energy stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $54.04, for a total value of $504,787.64. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at approximately $162,120. The disclosure for this sale can be found here. 36.40% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in shares of Clayton Williams Energy by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 20,224 shares of the company’s stock worth $556,000 after buying an additional 294 shares during the period. State Street Corp increased its position in shares of Clayton Williams Energy by 1.4% in the first quarter. State Street Corp now owns 104,391 shares of the company’s stock worth $931,000 after buying an additional 1,413 shares during the period. Teachers Advisors Inc. increased its position in shares of Clayton Williams Energy by 18.5% in the second quarter. Teachers Advisors Inc. now owns 9,734 shares of the company’s stock worth $267,000 after buying an additional 1,519 shares during the period. BlackRock Investment Management LLC increased its position in shares of Clayton Williams Energy by 15.3% in the second quarter. BlackRock Investment Management LLC now owns 25,661 shares of the company’s stock worth $705,000 after buying an additional 3,400 shares during the period. Finally, Woodstock Corp acquired a new position in shares of Clayton Williams Energy during the third quarter worth $558,000. 57.50% of the stock is currently owned by institutional investors and hedge funds.
Clayton Williams Energy Company Profile
Clayton Williams Energy, Inc is an oil and gas company engaged in the exploration for and production of oil and natural gas. The Company operates in Texas, Louisiana and New Mexico. Its segments include oil and gas exploration and production, and contract drilling services. It has holdings in approximately two oil shale plays in the United States, which include Wolfcamp Shale in the Southern Delaware Basin of West Texas and the Eagle Ford Shale in the Giddings Area of East Central Texas.
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