Stone Energy Corporation (NYSE:SGY) shot up 18.6% on Tuesday following a stronger than expected earnings report. The company traded as high as $25.98 and last traded at $25.72, with a volume of 649,188 shares. The stock had previously closed at $21.69.

The oil and natural gas company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.42. Stone Energy Corporation had a negative return on equity of 107.39% and a net margin of 41.74%. The company had revenue of $76.72 million during the quarter.

Several brokerages recently commented on SGY. BidaskClub raised Stone Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered Stone Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, May 26th. Finally, Zacks Investment Research raised Stone Energy Corporation from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.33.

Institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP bought a new position in Stone Energy Corporation during the second quarter valued at $3,943,000. Federated Investors Inc. PA bought a new position in Stone Energy Corporation during the second quarter valued at $207,000. Bank of New York Mellon Corp bought a new position in Stone Energy Corporation during the second quarter valued at $1,497,000. Rhumbline Advisers bought a new position in Stone Energy Corporation during the second quarter valued at $421,000. Finally, Schwab Charles Investment Management Inc. bought a new position in Stone Energy Corporation during the second quarter valued at $1,740,000. Institutional investors own 87.24% of the company’s stock.

The company’s market cap is $499.98 million. The firm’s 50-day moving average is $20.58 and its 200-day moving average is $25.30.

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Stone Energy Corporation Company Profile

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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