Stone Energy Corporation (SGY) Issues Quarterly Earnings Results, Beats Estimates By $0.37 EPS
Stone Energy Corporation (NYSE:SGY) announced its earnings results on Wednesday. The oil and natural gas company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.37, RTT News reports. Stone Energy Corporation had a negative return on equity of 215.45% and a net margin of 41.74%. During the same quarter last year, the company posted ($0.02) EPS.
Several research analysts recently issued reports on the company. BidaskClub lowered Stone Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered Stone Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Scotiabank reissued a “hold” rating and issued a $2.50 price objective on shares of Stone Energy Corporation in a report on Tuesday, October 10th. Finally, ValuEngine raised Stone Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.25.
Stone Energy Corporation 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.
Receive News & Ratings for Stone Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stone Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.