Stone Energy Corporation (SGY) Sees Significant Growth in Short Interest
Stone Energy Corporation (NYSE:SGY) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,466,145 shares, an increase of 49.1% from the August 31st total of 983,295 shares. Based on an average daily volume of 261,561 shares, the short-interest ratio is presently 5.6 days. Currently, 7.4% of the company’s shares are short sold.
Stone Energy Corporation (NYSE SGY) opened at 29.89 on Friday. The company has a 50-day moving average of $26.86 and a 200-day moving average of $22.77. The stock’s market capitalization is $597.77 million. Stone Energy Corporation has a 1-year low of $16.50 and a 1-year high of $70.97.
Stone Energy Corporation (NYSE:SGY) last released its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.42. Stone Energy Corporation had a net margin of 41.74% and a negative return on equity of 215.45%. The business had revenue of $76.72 million for the quarter. Analysts anticipate that Stone Energy Corporation will post $0.05 earnings per share for the current fiscal year.
A number of brokerages have weighed in on SGY. BidaskClub downgraded Stone Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Zacks Investment Research downgraded Stone Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $6.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Stone Energy Corporation in the first quarter worth approximately $123,000. Nationwide Fund Advisors bought a new position in Stone Energy Corporation in the second quarter worth approximately $204,000. Federated Investors Inc. PA bought a new position in Stone Energy Corporation in the second quarter worth approximately $207,000. Sei Investments Co. raised its position in Stone Energy Corporation by 12.7% in the second quarter. Sei Investments Co. now owns 13,039 shares of the oil and natural gas company’s stock worth $240,000 after acquiring an additional 1,465 shares during the period. Finally, New York State Common Retirement Fund bought a new position in Stone Energy Corporation in the second quarter worth approximately $384,000. Institutional investors and hedge funds own 96.28% of the company’s stock.
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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