Investors Buy Large Volume of Put Options on Sanchez Energy Corporation (SN)

Sanchez Energy Corporation (NYSE:SN) was the target of some unusual options trading on Tuesday. Stock traders purchased 11,044 put options on the company. This represents an increase of 473% compared to the average volume of 1,929 put options.

In other Sanchez Energy Corporation news, Director Thomas Brian Carney sold 10,204 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $6.19, for a total value of $63,162.76. Following the sale, the director now directly owns 68,423 shares in the company, valued at $423,538.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kirsten A. Hink sold 38,634 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $5.02, for a total value of $193,942.68. Following the completion of the sale, the vice president now owns 178,390 shares in the company, valued at $895,517.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,926 shares of company stock worth $438,989. 14.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC bought a new position in shares of Sanchez Energy Corporation during the first quarter valued at approximately $231,000. Oxford Asset Management increased its position in shares of Sanchez Energy Corporation by 1.9% in the first quarter. Oxford Asset Management now owns 122,033 shares of the energy producer’s stock valued at $1,164,000 after buying an additional 2,273 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sanchez Energy Corporation by 644.0% in the first quarter. Goldman Sachs Group Inc. now owns 668,025 shares of the energy producer’s stock valued at $6,373,000 after buying an additional 578,236 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Sanchez Energy Corporation during the first quarter valued at approximately $166,000. Finally, Sanders Morris Harris LLC increased its position in shares of Sanchez Energy Corporation by 6.1% in the second quarter. Sanders Morris Harris LLC now owns 346,000 shares of the energy producer’s stock valued at $2,484,000 after buying an additional 20,000 shares during the last quarter. 76.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on SN. Capital One Financial Corporation cut Sanchez Energy Corporation from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, July 26th. BidaskClub lowered Sanchez Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $10.00 price objective on shares of Sanchez Energy Corporation in a research note on Thursday, July 20th. Zacks Investment Research lowered Sanchez Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $5.00 price objective on shares of Sanchez Energy Corporation in a research note on Tuesday, June 27th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Sanchez Energy Corporation currently has a consensus rating of “Hold” and an average price target of $12.35.

Sanchez Energy Corporation (SN) opened at 4.88 on Friday. The stock’s 50 day moving average price is $5.78 and its 200 day moving average price is $8.18. Sanchez Energy Corporation has a 52 week low of $4.38 and a 52 week high of $14.39. The firm’s market cap is $374.02 million.

Sanchez Energy Corporation (NYSE:SN) last announced its earnings results on Wednesday, August 9th. The energy producer reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.18. The business had revenue of $175.70 million during the quarter, compared to analysts’ expectations of $178.97 million. The company’s revenue for the quarter was up 58.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($3.20) earnings per share. On average, equities research analysts predict that Sanchez Energy Corporation will post ($0.76) EPS for the current year.

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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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