Stone Energy Corporation (SGY) Earns Hold Rating from Scotiabank
Scotiabank reissued their hold rating on shares of Stone Energy Corporation (NYSE:SGY) in a research note published on Tuesday. The firm currently has a $2.50 price target on the oil and natural gas company’s stock.
Other equities analysts have also issued research reports about the company. BidaskClub lowered Stone Energy Corporation from a hold rating to a sell rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Stone Energy Corporation from a hold rating to a sell rating in a research note on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $5.17.
Stone Energy Corporation (NYSE SGY) traded up 1.60% during mid-day trading on Tuesday, reaching $29.27. The company’s stock had a trading volume of 23,120 shares. The company’s market capitalization is $585.37 million. The stock has a 50-day moving average price of $27.51 and a 200-day moving average price of $23.07. Stone Energy Corporation has a one year low of $16.50 and a one year high of $70.97.
Stone Energy Corporation (NYSE:SGY) last released its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.42. The business had revenue of $76.72 million during the quarter. Stone Energy Corporation had a negative return on equity of 215.45% and a net margin of 41.74%. Equities research analysts forecast that Stone Energy Corporation will post $0.05 EPS for the current year.
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Several institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Stone Energy Corporation in the 2nd quarter valued at about $821,000. California State Teachers Retirement System purchased a new position in shares of Stone Energy Corporation in the 2nd quarter valued at about $636,000. State Street Corp increased its stake in shares of Stone Energy Corporation by 2,548.1% in the 2nd quarter. State Street Corp now owns 308,242 shares of the oil and natural gas company’s stock valued at $5,669,000 after purchasing an additional 296,602 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Stone Energy Corporation in the 2nd quarter valued at about $627,000. Finally, QS Investors LLC purchased a new position in shares of Stone Energy Corporation in the 2nd quarter valued at about $1,019,000. Hedge funds and other institutional investors 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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