Sanchez Energy Corporation (SN) Stock Rating Upgraded by Seaport Global Securities
Sanchez Energy Corporation (NYSE:SN) was upgraded by stock analysts at Seaport Global Securities from a “sell” rating to a “neutral” rating in a research report issued on Wednesday. The firm currently has a $4.50 price objective on the energy producer’s stock. Seaport Global Securities’ target price would indicate a potential downside of 4.86% from the company’s current price.
A number of other research analysts also recently issued reports on the company. Royal Bank Of Canada set a $13.00 price target on Sanchez Energy Corporation and gave the stock a “buy” rating in a research note on Saturday, June 24th. Piper Jaffray Companies reiterated a “neutral” rating and set a $6.00 price objective (down previously from $14.00) on shares of Sanchez Energy Corporation in a research report on Monday, September 18th. BMO Capital Markets reissued a “hold” rating and issued a $5.00 target price on shares of Sanchez Energy Corporation in a report on Tuesday, June 27th. J P Morgan Chase & Co initiated coverage on Sanchez Energy Corporation in a report on Friday, September 15th. They issued a “neutral” rating on the stock. Finally, ValuEngine cut Sanchez Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $11.67.
Shares of Sanchez Energy Corporation (NYSE:SN) traded down 0.42% during mid-day trading on Wednesday, reaching $4.73. The company had a trading volume of 2,878,258 shares. The company’s market capitalization is $362.53 million. The company has a 50 day moving average price of $4.57 and a 200 day moving average price of $6.48. Sanchez Energy Corporation has a one year low of $3.96 and a one year high of $14.39.
Sanchez Energy Corporation (NYSE:SN) last released its quarterly earnings data on Wednesday, August 9th. The energy producer reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.18). The business had revenue of $175.70 million for the quarter, compared to analyst estimates of $178.97 million. The business’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.20) EPS. On average, analysts anticipate that Sanchez Energy Corporation will post ($0.88) EPS for the current year.
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In related news, VP Kirsten A. Hink sold 38,634 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $5.02, for a total transaction of $193,942.68. Following the completion of the transaction, the vice president now directly owns 178,390 shares of the company’s stock, valued at $895,517.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kirsten A. Hink sold 36,088 shares of Sanchez Energy Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $5.04, for a total transaction of $181,883.52. Following the completion of the sale, the chief accounting officer now owns 178,390 shares in the company, valued at $899,085.60. The disclosure for this sale can be found here. Insiders have purchased a total of 742,000 shares of company stock worth $3,379,220 in the last three months. 14.70% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Sanchez Energy Corporation by 644.0% during the 1st 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 in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Sanchez Energy Corporation in the 1st quarter valued at about $166,000. SG Americas Securities LLC lifted its holdings in shares of Sanchez Energy Corporation by 485.9% in the 2nd quarter. SG Americas Securities LLC now owns 180,093 shares of the energy producer’s stock valued at $1,293,000 after acquiring an additional 149,355 shares during the last quarter. Sanders Morris Harris LLC grew its position in 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 worth $2,484,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in Sanchez Energy Corporation by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 93,395 shares of the energy producer’s stock worth $843,000 after acquiring an additional 2,646 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.
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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