Stone Energy Corporation (SGY) Issues Quarterly Earnings Results, Beats Estimates By $0.42 EPS
Stone Energy Corporation (NYSE:SGY) posted its quarterly earnings data on Monday. The oil and natural gas company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.42, Morningstar.com reports. Stone Energy Corporation had a negative return on equity of 80.70% and a negative net margin of 7.94%.
Stone Energy Corporation (SGY) traded up 11.39% on Tuesday, reaching $24.16. The company had a trading volume of 64,640 shares. The company’s 50-day moving average is $20.58 and its 200-day moving average is $25.30. Stone Energy Corporation has a 52-week low of $16.50 and a 52-week high of $32.39. The company’s market capitalization is $483.18 million.
Several research analysts recently commented on SGY shares. Zacks Investment Research raised Stone Energy Corporation from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, April 12th. ValuEngine raised Stone Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Stone Energy Corporation presently has an average rating of “Hold” and an average price target of $12.33.
Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Stone Energy Corporation during the first quarter worth $123,000. Federated Investors Inc. PA bought a new stake in shares of Stone Energy Corporation during the second quarter worth $207,000. Sei Investments Co. boosted its stake in shares of Stone Energy Corporation by 12.7% in the second quarter. Sei Investments Co. now owns 13,039 shares of the oil and natural gas company’s stock worth $240,000 after buying an additional 1,465 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Stone Energy Corporation during the second quarter worth $398,000. Finally, Rhumbline Advisers bought a new stake in shares of Stone Energy Corporation during the second quarter worth $421,000. Institutional investors and hedge funds own 87.24% of the company’s stock.
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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