Barclays PLC Downgrades Stone Energy Corp. (SGY) to Underweight
Stone Energy Corp. (NYSE:SGY) was downgraded by stock analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Monday, The Fly reports.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Stone Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. National Securities reissued a “neutral” rating and set a $7.00 price target on shares of Stone Energy Corp. in a research note on Wednesday, August 3rd. Finally, Howard Weil increased their price target on Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a research note on Thursday, June 30th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Stone Energy Corp. has an average rating of “Hold” and a consensus price target of $6.71.
Shares of Stone Energy Corp. (NYSE:SGY) opened at 10.67 on Monday. Stone Energy Corp. has a 12 month low of $2.70 and a 12 month high of $78.00. The company’s market capitalization is $59.65 million. The stock has a 50 day moving average price of $11.44 and a 200-day moving average price of $9.92.
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Stone Energy Corp. (NYSE:SGY) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($7.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.42) by $1.03. The business earned $89.32 million during the quarter, compared to the consensus estimate of $79.01 million. Stone Energy Corp. had a negative return on equity of 39.01% and a negative net margin of 241.14%. During the same period last year, the company earned ($1.69) EPS. Analysts expect that Stone Energy Corp. will post ($0.06) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. A.R.T. Advisors LLC increased its stake in shares of Stone Energy Corp. by 3,620.8% in the first quarter. A.R.T. Advisors LLC now owns 958,410 shares of the company’s stock valued at $757,000 after buying an additional 932,652 shares during the last quarter. Spark Investment Management LLC acquired a new stake in shares of Stone Energy Corp. during the first quarter valued at $300,000. Renaissance Technologies LLC acquired a new stake in shares of Stone Energy Corp. during the first quarter valued at $188,000. Scoggin Management LP acquired a new stake in shares of Stone Energy Corp. during the second quarter valued at $905,000. Finally, AQR Capital Management LLC increased its stake in shares of Stone Energy Corp. by 72.2% in the second quarter. AQR Capital Management LLC now owns 92,906 shares of the company’s stock valued at $1,121,000 after buying an additional 38,943 shares during the last quarter. Hedge funds and other institutional investors own 35.85% of the company’s stock.
About Stone Energy Corp.
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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