Sanchez Energy Corp. Now Covered by Analysts at Imperial Capital (SN)
Imperial Capital started coverage on shares of Sanchez Energy Corp. (NYSE:SN) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set an “in-line” rating and a $30.00 price target on the stock. Imperial Capital’s target price points to a potential upside of 11.15% from the company’s current price.
The analysts wrote, “We are initiating coverage of Sanchez Energy with an In-Line rating and a one-year price target of $30, approximately 10% above the recent share price. With approximately 140,000 net acres in the oil and condensate fairways of the Eagle Ford Shale (EFS), SN offers investors a small-cap, oil-focused producer benefiting from rapid production and reserve growth associated with the development of its EFS acreage. Also, on 8/16/13, SN established a position of about 40,000 net acres in the core of the emerging oil-focused Tuscaloosa Marine Shale (TMS). In order to establish its acreage positions in the Eagle Ford Shale and Tuscaloosa Marine Shale, the company has executed $608mn in acquisitions since the start of 2013, including the recently announced $220mn Wycross purchase. In order to finance the recent transaction, SN closed on debt and equity offerings, raising net proceeds of approximately $440mn on 9/13/13.”
Sanchez Energy Corp. (NYSE:SN) traded up 0.41% on Friday, hitting $27.10. 38,259 shares of the company’s stock traded hands. Sanchez Energy Corp. has a 52-week low of $16.90 and a 52-week high of $27.60. The stock has a 50-day moving average of $23.57 and a 200-day moving average of $21.68. The company has a market cap of $897.7 million and a price-to-earnings ratio of 599.78.
Sanchez Energy Corp. (NYSE:SN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.11. The company had revenue of $59.08 million for the quarter, compared to the consensus estimate of $61.98 million. The company’s revenue for the quarter was up 834.7% on a year-over-year basis.
A number of other firms have also recently commented on SN. Analysts at Canaccord Genuity cut their price target on shares of Sanchez Energy Corp. (NYSE:SN) from $31.00 to $30.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital upgraded shares of Sanchez Energy Corp. (NYSE:SN) from a “sector perform” rating to an “outperform” rating in a research note to investors on Friday, August 30th. They now have a $27.00 price target on the stock, up previously from $23.00. Finally, analysts at TheStreet downgraded shares of Sanchez Energy Corp. (NYSE:SN) from a “hold” rating to a “sell” rating in a research note to investors on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $28.15.
Sanchez Energy Corporation is an independent exploration and production company focused on the exploration, acquisition and development of unconventional oil and natural gas resources.
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