Sanchez Energy Corporation’s (SN) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Sanchez Energy Corporation (NYSE:SN)‘s stock had its “buy” rating reissued by investment analysts at Royal Bank Of Canada in a note issued to investors on Thursday. They currently have a $10.00 price objective on the energy producer’s stock. Royal Bank Of Canada’s target price points to a potential upside of 59.74% from the stock’s previous close.
SN has been the topic of several other research reports. Zacks Investment Research lowered shares of Sanchez Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, April 14th. KLR Group reiterated a “buy” rating and set a $10.00 price objective (down previously from $12.00) on shares of Sanchez Energy Corporation in a report on Wednesday, May 17th. Credit Suisse Group reiterated a “hold” rating and set a $11.00 price objective on shares of Sanchez Energy Corporation in a report on Friday, March 31st. Seaport Global Securities lowered shares of Sanchez Energy Corporation from a “buy” rating to a “sell” rating and dropped their price objective for the company from $15.00 to $5.00 in a report on Wednesday, June 21st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $5.00 price objective on shares of Sanchez Energy Corporation in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.35.
Sanchez Energy Corporation (NYSE:SN) traded down 6.85% during trading on Thursday, reaching $6.26. The company’s stock had a trading volume of 3,239,519 shares. Sanchez Energy Corporation has a 12 month low of $5.60 and a 12 month high of $14.39. The stock’s 50-day moving average is $6.65 and its 200 day moving average is $9.05. The company’s market cap is $475.32 million. Sanchez Energy Corporation also was the recipient of some unusual options trading activity on Tuesday. Investors acquired 14,866 put options on the stock. This represents an increase of approximately 1,118% compared to the average volume of 1,221 put options.
Sanchez Energy Corporation (NYSE:SN) last announced its quarterly earnings data on Tuesday, May 9th. The energy producer reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.84. The firm had revenue of $133.80 million for the quarter, compared to analysts’ expectations of $128.68 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The company’s revenue for the quarter was up 67.7% on a year-over-year basis. On average, equities analysts forecast that Sanchez Energy Corporation will post ($0.04) EPS for the current fiscal year.
In other Sanchez Energy Corporation news, VP Christopher Heinson sold 22,730 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $7.68, for a total value of $174,566.40. Following the completion of the sale, the vice president now directly owns 598,925 shares of the company’s stock, valued at approximately $4,599,744. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Brian Carney sold 10,204 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $6.19, for a total transaction of $63,162.76. Following the completion of the sale, the director now directly owns 68,423 shares of the company’s stock, valued at $423,538.37. The disclosure for this sale can be found here. Insiders own 14.70% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL purchased a new stake in shares of Sanchez Energy Corporation during the first quarter worth about $105,000. ClariVest Asset Management LLC bought a new position in Sanchez Energy Corporation during the first quarter worth $120,000. Mackay Shields LLC bought a new position in Sanchez Energy Corporation during the first quarter worth $126,000. 361 Capital LLC bought a new position in Sanchez Energy Corporation during the first quarter worth $129,000. Finally, Legal & General Group Plc increased its position in Sanchez Energy Corporation by 27.4% in the first quarter. Legal & General Group Plc now owns 17,348 shares of the energy producer’s stock worth $165,000 after buying an additional 3,733 shares in the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.
About Sanchez Energy Corporation
Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of the United States onshore unconventional oil and natural gas resources. The Company primarily focuses on the Eagle Ford Shale in South Texas. The Company also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
Receive News & Ratings for Sanchez Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanchez Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.