Stone Energy Corp. (SGY) Rating Lowered to Underweight at Barclays PLC
Stone Energy Corp. (NYSE:SGY) was downgraded by equities research analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating in a research note issued on Monday. They presently have a $3.00 target price on the stock. Barclays PLC’s target price indicates a potential downside of 67.95% from the stock’s current price.
A number of other brokerages have also weighed in on SGY. National Securities restated a “neutral” rating and issued a $7.00 price objective on shares of Stone Energy Corp. in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Stone Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a report on Monday, July 11th. Finally, Howard Weil raised their price objective on shares of Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a report on Thursday, June 30th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.71.
Stone Energy Corp. (NYSE:SGY) opened at 9.36 on Monday. Stone Energy Corp. has a 12 month low of $2.70 and a 12 month high of $78.00. The firm has a 50 day moving average of $11.33 and a 200-day moving average of $9.98. The firm’s market cap is $52.32 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 Zacks’ consensus estimate of ($6.42) by $1.03. Stone Energy Corp. had a negative net margin of 241.14% and a negative return on equity of 39.01%. The firm earned $89.32 million during the quarter, compared to analyst estimates of $79.01 million. During the same quarter in the previous year, the business posted ($1.69) earnings per share. On average, equities research analysts forecast that Stone Energy Corp. will post ($0.06) earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Stone Energy Corp. by 72.2% in the second quarter. AQR Capital Management LLC now owns 92,906 shares of the company’s stock worth $1,121,000 after buying an additional 38,943 shares in the last quarter. Citadel Advisors LLC increased its position in Stone Energy Corp. by 66.9% in the second quarter. Citadel Advisors LLC now owns 60,431 shares of the company’s stock worth $729,000 after buying an additional 24,215 shares in the last quarter. Stonehill Capital Management LLC purchased a new position in Stone Energy Corp. during the second quarter worth approximately $438,000. Scoggin Management LP purchased a new position in Stone Energy Corp. during the second quarter worth approximately $905,000. Finally, Societe Generale purchased a new position in Stone Energy Corp. during the second quarter worth approximately $128,000. 35.85% of the stock is owned by institutional investors and hedge funds.
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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