Sanchez Energy Corporation (SN) Short Interest Up 15.4% in October
Sanchez Energy Corporation (NYSE:SN) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 23,940,990 shares, an increase of 15.4% from the October 13th total of 20,747,424 shares. Based on an average daily volume of 3,267,150 shares, the short-interest ratio is presently 7.3 days. Approximately 33.3% of the shares of the stock are short sold.
In other Sanchez Energy Corporation news, insider Patricio D. Sanchez purchased 320,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $4.55 per share, with a total value of $1,456,000.00. Following the acquisition, the insider now owns 473,485 shares in the company, valued at $2,154,356.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Antonio R. Sanchez III purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average cost of $4.45 per share, with a total value of $445,000.00. Following the acquisition, the chief executive officer now owns 1,494,783 shares in the company, valued at approximately $6,651,784.35. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 742,000 shares of company stock valued at $3,379,220. Company insiders own 14.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Sanchez Energy Corporation by 27.4% during the first quarter. Legal & General Group Plc now owns 17,348 shares of the energy producer’s stock valued at $165,000 after acquiring an additional 3,733 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Sanchez Energy Corporation by 180.1% during the third quarter. Cubist Systematic Strategies LLC now owns 21,841 shares of the energy producer’s stock valued at $105,000 after acquiring an additional 14,044 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Sanchez Energy Corporation during the second quarter valued at approximately $174,000. Cambridge Investment Research Advisors Inc. increased its holdings in Sanchez Energy Corporation by 6.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 25,400 shares of the energy producer’s stock valued at $182,000 after buying an additional 1,650 shares during the period. Finally, Stonebridge Capital Management Inc. purchased a new position in Sanchez Energy Corporation during the second quarter valued at approximately $186,000. 67.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Sanchez Energy Corporation (SN) opened at $4.99 on Friday. The company has a debt-to-equity ratio of -3.72, a quick ratio of 0.88 and a current ratio of 0.88. Sanchez Energy Corporation has a 12 month low of $3.58 and a 12 month high of $14.39.
A number of research analysts recently commented on the stock. Stifel Nicolaus set a $5.00 price target on shares of Sanchez Energy Corporation and gave the company a “hold” rating in a report on Thursday, October 5th. Capital One Financial Corporation downgraded shares of Sanchez Energy Corporation from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, July 26th. J P Morgan Chase & Co initiated coverage on shares of Sanchez Energy Corporation in a research note on Friday, September 15th. They issued a “neutral” rating for the company. ValuEngine downgraded shares of Sanchez Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of Sanchez Energy Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $10.44.
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About Sanchez Energy Corporation
Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of the United States onshore unconventional oil and natural gas resources. The Company primarily focuses on the Eagle Ford Shale in South Texas. The Company also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
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