Stone Energy (NYSE:SGY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a research report issued on Thursday. They presently have a $3.25 price objective on the oil and natural gas company’s stock. Canaccord Genuity’s price target would suggest a potential downside of 87.35% from the stock’s current price.

A number of other equities analysts also recently issued reports on SGY. BidaskClub downgraded shares of Stone Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Zacks Investment Research downgraded shares of Stone Energy from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Scotiabank reaffirmed a “hold” rating and set a $2.50 price objective on shares of Stone Energy in a report on Tuesday, October 10th. ValuEngine raised shares of Stone Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $2.75 price objective on shares of Stone Energy in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $4.63.

Shares of Stone Energy (NYSE:SGY) traded up $0.27 during mid-day trading on Thursday, reaching $25.70. 145,300 shares of the company’s stock were exchanged, compared to its average volume of 219,322. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.20 and a quick ratio of 2.20. Stone Energy has a fifty-two week low of $16.50 and a fifty-two week high of $49.96.

Stone Energy (NYSE:SGY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.37. The business had revenue of $79.53 million during the quarter. Stone Energy had a net margin of 68.43% and a return on equity of 590.23%. During the same quarter last year, the firm posted ($0.02) EPS. analysts forecast that Stone Energy will post -1.17 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of SGY. Nationwide Fund Advisors purchased a new position in shares of Stone Energy in the 2nd quarter worth about $204,000. Susquehanna International Group LLP purchased a new position in shares of Stone Energy in the 3rd quarter worth about $206,000. Federated Investors Inc. PA purchased a new position in shares of Stone Energy in the 2nd quarter worth about $207,000. Sei Investments Co. boosted its holdings in shares of Stone Energy by 12.7% in the 2nd 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. Finally, New York State Common Retirement Fund purchased a new position in shares of Stone Energy in the 2nd quarter worth about $384,000. 97.09% of the stock is currently owned by hedge funds and other institutional investors.

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About Stone Energy

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.

Analyst Recommendations for Stone Energy (NYSE:SGY)

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