Scotiabank reiterated their hold rating on shares of Stone Energy Corporation (NYSE:SGY) in a report released on Tuesday. The brokerage currently has a $2.50 price objective on the oil and natural gas company’s stock.
Several other research firms have also issued reports on SGY. Zacks Investment Research lowered shares of Stone Energy Corporation from a hold rating to a sell rating in a report on Wednesday, September 20th. BidaskClub raised shares of Stone Energy Corporation from a sell rating to a hold rating in a report on Wednesday, August 9th. Three equities 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 company. The company has an average rating of Hold and an average price target of $5.17.
Stone Energy Corporation (NYSE:SGY) opened at 29.38 on Tuesday. The company’s market capitalization is $587.57 million. The company has a 50-day moving average price of $27.27 and a 200 day moving average price of $22.97. Stone Energy Corporation has a 52-week low of $16.50 and a 52-week high of $70.97.
Stone Energy Corporation (NYSE:SGY) last released its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.42. Stone Energy Corporation had a net margin of 41.74% and a negative return on equity of 215.45%. The business had revenue of $76.72 million for the quarter. Equities research analysts anticipate that Stone Energy Corporation will post $0.05 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in SGY. SG Americas Securities LLC purchased a new stake in shares of Stone Energy Corporation during the first quarter valued at $123,000. Nationwide Fund Advisors purchased a new stake in shares of Stone Energy Corporation during the second quarter valued at $204,000. Federated Investors Inc. PA purchased a new stake in shares of Stone Energy Corporation during the second quarter valued at $207,000. Sei Investments Co. grew its holdings in shares of Stone Energy Corporation by 12.7% during the second quarter. Sei Investments Co. now owns 13,039 shares of the oil and natural gas company’s stock valued at $240,000 after buying an additional 1,465 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Stone Energy Corporation during the second quarter valued at $384,000. 96.28% of the stock is currently owned by hedge funds and other institutional investors.
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.
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