Q3 2017 Earnings Estimate for Sanchez Energy Corporation Issued By Seaport Global Securities (SN)
Sanchez Energy Corporation (NYSE:SN) – Equities researchers at Seaport Global Securities boosted their Q3 2017 EPS estimates for shares of Sanchez Energy Corporation in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Kelly now expects that the energy producer will post earnings of ($0.19) per share for the quarter, up from their previous forecast of ($0.20). Seaport Global Securities has a “Neutral” rating and a $4.50 price target on the stock. Seaport Global Securities also issued estimates for Sanchez Energy Corporation’s FY2017 earnings at ($1.21) EPS.
Sanchez Energy Corporation (NYSE:SN) last posted its earnings results on Wednesday, August 9th. The energy producer reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.18). The firm had revenue of $175.70 million during the quarter, compared to analysts’ expectations of $178.97 million. During the same quarter in the previous year, the business earned ($3.20) earnings per share. The business’s revenue for the quarter was up 58.3% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/06/q3-2017-earnings-estimate-for-sanchez-energy-corporation-issued-by-seaport-global-securities-sn.html.
Several other brokerages also recently weighed in on SN. BMO Capital Markets reiterated a “hold” rating and issued a $5.00 price target on shares of Sanchez Energy Corporation in a report on Tuesday, June 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $10.00 price target on shares of Sanchez Energy Corporation in a report on Thursday, July 20th. Zacks Investment Research downgraded Sanchez Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Capital One Financial Corporation downgraded Sanchez Energy Corporation from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 26th. Finally, BidaskClub downgraded Sanchez Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Sanchez Energy Corporation presently has a consensus rating of “Hold” and an average target price of $11.82.
Sanchez Energy Corporation (NYSE:SN) opened at 4.92 on Friday. The stock’s 50 day moving average price is $4.57 and its 200 day moving average price is $6.45. The stock’s market capitalization is $377.09 million. Sanchez Energy Corporation has a 1-year low of $3.96 and a 1-year high of $14.39.
Several large investors have recently made changes to their positions in SN. Virginia Retirement Systems ET AL purchased a new position in shares of Sanchez Energy Corporation in the 1st quarter valued at $105,000. Mackay Shields LLC increased its holdings in shares of Sanchez Energy Corporation by 25.4% in the 2nd quarter. Mackay Shields LLC now owns 16,611 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 3,362 shares during the period. ClariVest Asset Management LLC purchased a new position in shares of Sanchez Energy Corporation in the 1st quarter valued at $120,000. Legal & General Group Plc increased its holdings in shares of Sanchez Energy Corporation by 27.4% in the 1st quarter. Legal & General Group Plc now owns 17,348 shares of the energy producer’s stock valued at $165,000 after acquiring an additional 3,733 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Sanchez Energy Corporation in the 1st quarter valued at $166,000. Institutional investors and hedge funds own 70.09% of the company’s stock.
In other news, VP Kirsten A. Hink sold 38,634 shares of Sanchez Energy Corporation stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $5.02, for a total value of $193,942.68. Following the transaction, the vice president now directly owns 178,390 shares in the company, valued at approximately $895,517.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antonio R. Sanchez III purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $4.45 per share, for a total transaction of $445,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,494,783 shares in the company, valued at approximately $6,651,784.35. The disclosure for this purchase can be found here. Insiders have acquired a total of 742,000 shares of company stock worth $3,379,220 over the last 90 days. 14.70% of the stock is currently owned by company insiders.
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.
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