Stone Energy Corporation (NYSE:SGY) Short Interest Up 123.2% in June
Stone Energy Corporation (NYSE:SGY) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,406,621 shares, an increase of 123.2% from the June 15th total of 630,299 shares. Based on an average daily volume of 630,780 shares, the short-interest ratio is presently 2.2 days. Approximately 7.1% of the company’s stock are short sold.
A number of research analysts have recently commented on the stock. ValuEngine cut shares of Stone Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, May 26th. Zacks Investment Research raised shares of Stone Energy Corporation from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Stone Energy Corporation presently has a consensus rating of “Hold” and an average price target of $12.33.
Shares of Stone Energy Corporation (NYSE SGY) opened at 20.97 on Wednesday. The firm’s market capitalization is $419.38 million. Stone Energy Corporation has a 12-month low of $16.50 and a 12-month high of $111.93. The company has a 50-day moving average of $21.18 and a 200 day moving average of $26.52.
Several large investors have recently bought and sold shares of SGY. Mackay Shields LLC acquired a new stake in Stone Energy Corporation during the first quarter valued at $86,239,000. Sei Investments Co. acquired a new stake in Stone Energy Corporation during the first quarter valued at $253,000. Ameriprise Financial Inc. acquired a new stake in Stone Energy Corporation during the first quarter valued at $4,261,000. SG Americas Securities LLC acquired a new stake in Stone Energy Corporation during the first quarter valued at $123,000. Finally, Snow Capital Management LP acquired a new stake in Stone Energy Corporation during the first quarter valued at $798,000. 87.26% of the stock is owned by institutional investors.
About Stone Energy Corporation
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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