Stone Energy Corp. (SGY) Downgraded to Underweight at Barclays PLC
Stone Energy Corp. (NYSE:SGY) was downgraded by stock analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating in a report issued on Monday. They presently have a $3.00 target price on the stock. Barclays PLC’s price objective would suggest a potential downside of 67.57% from the stock’s current price.
SGY has been the subject of several other research reports. Howard Weil upped their target price on shares of Stone Energy Corp. to $17.00 and gave the company a “sector perform” rating in a report on Thursday, June 30th. Zacks Investment Research cut shares of Stone Energy Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, National Securities restated a “neutral” rating and issued a $7.00 target price on shares of Stone Energy Corp. in a report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.71.
Stone Energy Corp. (NYSE:SGY) traded down 13.31% on Monday, reaching $9.25. 721,114 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $11.39 and a 200-day moving average price of $9.96. The company’s market capitalization is $51.71 million. Stone Energy Corp. has a 1-year low of $2.70 and a 1-year high of $78.00.
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Stone Energy Corp. (NYSE:SGY) last issued its earnings results on Tuesday, August 2nd. The company reported ($7.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.42) by $1.03. Stone Energy Corp. had a negative net margin of 241.14% and a negative return on equity of 39.01%. The company earned $89.32 million during the quarter, compared to analyst estimates of $79.01 million. During the same quarter in the previous year, the company posted ($1.69) EPS. Equities research analysts expect that Stone Energy Corp. will post ($0.06) earnings per share for the current year.
Several institutional investors have recently made changes to their positions in SGY. Societe Generale bought a new position in shares of Stone Energy Corp. during the second quarter worth about $128,000. Renaissance Technologies LLC bought a new position in shares of Stone Energy Corp. during the first quarter worth about $188,000. Geode Capital Management LLC increased its position in shares of Stone Energy Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 343,674 shares of the company’s stock worth $271,000 after buying an additional 2,896 shares in the last quarter. Spark Investment Management LLC bought a new position in shares of Stone Energy Corp. during the first quarter worth about $300,000. Finally, Stonehill Capital Management LLC bought a new position in shares of Stone Energy Corp. during the second quarter worth about $438,000. Institutional investors and hedge funds own 35.85% of the company’s stock.
Stone Energy Corp. Company Profile
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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