Stone Energy Corp. (SGY) Debt Trading 2.3% Higher
An issue of Stone Energy Corp. (NYSE:SGY) debt rose 2.3% against its face value during trading on Thursday. The debt issue has a 7.5% coupon and will mature on November 15, 2022. The debt is now trading at $59.00 and was trading at $56.47 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
Several analysts recently weighed in on the company. National Securities restated a “neutral” rating and issued a $7.00 price target on shares of Stone Energy Corp. in a research note on Wednesday, August 3rd. Barclays PLC downgraded Stone Energy Corp. from an “equal weight” rating to an “underweight” rating and set a $3.00 price target on the stock. in a research note on Monday, October 17th. Finally, Zacks Investment Research downgraded Stone Energy Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Stone Energy Corp. presently has an average rating of “Hold” and a consensus price target of $7.00.
Stone Energy Corp. (NYSE:SGY) opened at 4.30 on Friday. The stock has a 50 day moving average price of $8.14 and a 200-day moving average price of $9.52. Stone Energy Corp. has a 1-year low of $2.70 and a 1-year high of $78.00. The stock’s market capitalization is $24.46 million.
Stone Energy Corp. (NYSE:SGY) last posted its quarterly earnings results on Monday, November 7th. The company reported ($7.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($6.67) by $0.73. Stone Energy Corp. had a negative net margin of 211.47% and a negative return on equity of 39.01%. The company had revenue of $94.43 million for the quarter, compared to the consensus estimate of $32.17 million. During the same period in the prior year, the firm posted ($1.53) EPS. The business’s revenue was down 28.6% on a year-over-year basis. Equities research analysts expect that Stone Energy Corp. will post ($0.06) EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC increased its stake in 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. Societe Generale bought a new stake in Stone Energy Corp. during the second quarter valued at $128,000. Scoggin Management LP bought a new stake in Stone Energy Corp. during the second quarter valued at $905,000. Stonehill Capital Management LLC bought a new stake in Stone Energy Corp. during the second quarter valued at $438,000. Finally, Citadel Advisors LLC increased its stake in Stone Energy Corp. by 66.9% in the second quarter. Citadel Advisors LLC now owns 60,431 shares of the company’s stock valued at $729,000 after buying an additional 24,215 shares in the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.
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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