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Stone Energy (NYSE:SGY) was upgraded by analysts at KLR Group from an “accumulate” rating to a “buy” rating in a research report issued to clients and investors on Friday, reports.

Stone Energy (NYSE:SGY) traded up 4.06% on Friday, hitting $35.41. The stock had a trading volume of 1,326,877 shares. Stone Energy has a 52 week low of $27.12 and a 52 week high of $50.00. The stock’s 50-day moving average is $41.77 and its 200-day moving average is $40.29. The company has a market cap of $1.967 billion and a price-to-earnings ratio of 25.78.

Stone Energy (NYSE:SGY) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.31. The company had revenue of $204.96 million for the quarter, compared to the consensus estimate of $221.53 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. Analysts expect that Stone Energy will post $1.38 EPS for the current fiscal year.

A number of other firms have also recently commented on SGY. Analysts at Brean Capital cut their price target on shares of Stone Energy from $57.00 to $52.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Paradigm Capital downgraded shares of Stone Energy from a “buy” rating to a “hold” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Stone Energy presently has a consensus rating of “Buy” and an average target price of $50.56.

Stone Energy Corporation (NYSE:SGY) is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties.

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