Sanchez Energy Corp. (SN) Downgraded to Sell at Zacks Investment Research
Sanchez Energy Corp. (NYSE:SN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Sanchez Energy Corporation is an independent oil and gas exploration and development company focused on the exploration, acquisition and development of unconventional oil and natural gas resources, primarily in the Eagle Ford Shale in South Texas. Sanchez Energy Corporation is headquartered in Houston, Texas. “
A number of other research analysts have also recently issued reports on the company. KLR Group cut Sanchez Energy Corp. from a “buy” rating to an “accumulate” rating and set a $10.00 price objective for the company. in a report on Friday, August 19th. Vetr cut Sanchez Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $9.00 price target for the company. in a report on Friday, August 12th. National Securities lifted their price target on Sanchez Energy Corp. from $9.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Sanchez Energy Corp. in a report on Thursday, July 7th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Sanchez Energy Corp. in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.03.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/sanchez-energy-corp-sn-downgraded-to-sell-at-zacks-investment-research.html
Sanchez Energy Corp. (NYSE:SN) traded down 5.50% during mid-day trading on Tuesday, reaching $7.91. 807,611 shares of the company’s stock were exchanged. The stock’s market cap is $463.26 million. Sanchez Energy Corp. has a 52 week low of $2.06 and a 52 week high of $9.83. The stock has a 50-day moving average price of $8.61 and a 200-day moving average price of $7.68.
Sanchez Energy Corp. (NYSE:SN) last issued its quarterly earnings data on Monday, August 8th. The company reported ($3.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $3.11. The business earned $111 million during the quarter, compared to the consensus estimate of $121.61 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. On average, analysts forecast that Sanchez Energy Corp. will post ($0.23) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its position in Sanchez Energy Corp. by 36.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 215,627 shares of the company’s stock valued at $1,523,000 after buying an additional 58,030 shares during the period. Numeric Investors LLC acquired a new position in Sanchez Energy Corp. during the second quarter valued at $2,449,000. Highbridge Capital Management LLC acquired a new position in Sanchez Energy Corp. during the second quarter valued at $191,000. Jane Street Group LLC boosted its position in Sanchez Energy Corp. by 133.0% in the second quarter. Jane Street Group LLC now owns 30,527 shares of the company’s stock valued at $215,000 after buying an additional 17,428 shares during the period. Finally, UBS Oconnor LLC boosted its position in Sanchez Energy Corp. by 599.2% in the second quarter. UBS Oconnor LLC now owns 313,163 shares of the company’s stock valued at $2,211,000 after buying an additional 268,372 shares during the period. Institutional investors and hedge funds own 58.86% of the company’s stock.
Sanchez Energy Corp. Company Profile
Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the onshore United States Gulf Coast. The Company focuses on the Eagle Ford Shale in South Texas and the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sanchez Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanchez Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.