State Street Corp grew its position in shares of Sanchez Energy Corporation (NYSE:SN) by 50.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,343,314 shares of the energy producer’s stock after acquiring an additional 2,446,795 shares during the period. State Street Corp owned about 9.58% of Sanchez Energy Corporation worth $52,727,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of SN. Bank of New York Mellon Corp raised its stake in Sanchez Energy Corporation by 36.0% in the first quarter. Bank of New York Mellon Corp now owns 459,413 shares of the energy producer’s stock worth $4,384,000 after buying an additional 121,547 shares in the last quarter. Swiss National Bank raised its stake in Sanchez Energy Corporation by 17.1% in the first quarter. Swiss National Bank now owns 120,100 shares of the energy producer’s stock worth $1,146,000 after buying an additional 17,500 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Sanchez Energy Corporation by 60.5% in the first quarter. UBS Asset Management Americas Inc. now owns 36,763 shares of the energy producer’s stock worth $351,000 after buying an additional 13,864 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Sanchez Energy Corporation during the first quarter valued at approximately $553,000. Finally, American International Group Inc. increased its stake in shares of Sanchez Energy Corporation by 27.6% during the first quarter. American International Group Inc. now owns 41,016 shares of the energy producer’s stock valued at $391,000 after purchasing an additional 8,875 shares in the last quarter. 69.81% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on SN. BMO Capital Markets set a $5.00 target price on shares of Sanchez Energy Corporation and gave the company a “hold” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $6.00 target price (down previously from $14.00) on shares of Sanchez Energy Corporation in a research note on Monday, September 18th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $5.00 target price on shares of Sanchez Energy Corporation in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of Sanchez Energy Corporation from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Thursday, October 19th. Finally, Stifel Nicolaus set a $5.00 price target on shares of Sanchez Energy Corporation and gave the company a “hold” rating in a report on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Sanchez Energy Corporation has a consensus rating of “Hold” and a consensus price target of $10.44.
Sanchez Energy Corporation (NYSE:SN) last announced its quarterly earnings results on Friday, November 3rd. The energy producer reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.16. The firm had revenue of $184.80 million for the quarter, compared to analysts’ expectations of $175.79 million. During the same period last year, the company posted ($1.19) earnings per share. The business’s quarterly revenue was up 61.0% on a year-over-year basis.
In other Sanchez Energy Corporation news, CEO Antonio R. Sanchez III bought 100,000 shares of Sanchez Energy Corporation stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of $4.45 per share, for a total transaction of $445,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,494,783 shares of the company’s stock, valued at $6,651,784.35. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Howard J. Sr Thill, Sr. sold 16,499 shares of the stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $4.27, for a total transaction of $70,450.73. The disclosure for this sale can be found here. Insiders have purchased 742,000 shares of company stock worth $3,379,220 over the last three months. 14.70% of the stock is currently owned by insiders.
Sanchez Energy Corporation Company Profile
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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