Sanchez Energy Corp (NYSE:SN) – Equities researchers at Seaport Global Securities reduced their Q3 2018 earnings per share (EPS) estimates for shares of Sanchez Energy in a note issued to investors on Tuesday, October 16th, according to Zacks Investment Research. Seaport Global Securities analyst M. Kelly now expects that the energy producer will earn ($0.10) per share for the quarter, down from their prior estimate of $0.05. Seaport Global Securities also issued estimates for Sanchez Energy’s Q4 2018 earnings at ($0.17) EPS, FY2018 earnings at ($0.64) EPS, Q1 2019 earnings at ($0.05) EPS, Q2 2019 earnings at ($0.10) EPS, Q3 2019 earnings at ($0.11) EPS, Q4 2019 earnings at ($0.13) EPS and FY2019 earnings at ($0.40) EPS.
SN has been the topic of several other research reports. SunTrust Banks set a $2.00 price target on Sanchez Energy and gave the stock a “hold” rating in a research report on Tuesday, October 23rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $2.50 price target on shares of Sanchez Energy in a research report on Tuesday. Capital One Financial reaffirmed an “underweight” rating on shares of Sanchez Energy in a research report on Tuesday, August 7th. ValuEngine raised Sanchez Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $3.00 price target on shares of Sanchez Energy in a research report on Thursday, August 30th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $3.31.
Sanchez Energy (NYSE:SN) last posted its earnings results on Thursday, November 1st. The energy producer reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The business had revenue of $277.71 million for the quarter, compared to analysts’ expectations of $255.06 million. Sanchez Energy had a negative return on equity of 8.96% and a negative net margin of 9.24%. Sanchez Energy’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS.
In other news, CFO Howard J. Sr Thill, Sr. sold 21,877 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $2.46, for a total value of $53,817.42. Following the transaction, the chief financial officer now owns 348,373 shares of the company’s stock, valued at $856,997.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 14.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SN. Allianz Asset Management GmbH increased its holdings in shares of Sanchez Energy by 1,299.0% in the first quarter. Allianz Asset Management GmbH now owns 3,000,000 shares of the energy producer’s stock valued at $9,390,000 after purchasing an additional 2,785,563 shares during the period. JPMorgan Chase & Co. grew its holdings in Sanchez Energy by 28.2% during the first quarter. JPMorgan Chase & Co. now owns 1,360,230 shares of the energy producer’s stock worth $4,258,000 after acquiring an additional 299,032 shares during the period. Wells Fargo & Company MN grew its holdings in Sanchez Energy by 13.0% during the first quarter. Wells Fargo & Company MN now owns 1,933,400 shares of the energy producer’s stock worth $6,052,000 after acquiring an additional 222,516 shares during the period. Fisher Asset Management LLC grew its holdings in Sanchez Energy by 103.3% during the second quarter. Fisher Asset Management LLC now owns 388,554 shares of the energy producer’s stock worth $1,756,000 after acquiring an additional 197,446 shares during the period. Finally, Price Capital Management Inc. acquired a new position in Sanchez Energy during the second quarter worth $797,000. 48.25% of the stock is currently owned by institutional investors and hedge funds.
About Sanchez Energy
Sanchez Energy Corporation, an independent exploration and production company, focuses on the acquisition and development of U.S. onshore unconventional oil and natural gas resources. It engages in the horizontal development of resources from the Eagle Ford Shale in South Texas. It also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
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