Sanchez Energy Corporation (NYSE:SN)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank Of Canada in a report released on Thursday, July 20th. They currently have a $10.00 target price on the energy producer’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 99.60% from the company’s previous close.
SN has been the topic of several other research reports. Zacks Investment Research upgraded Sanchez Energy Corporation from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Credit Suisse Group reiterated a “hold” rating and set a $11.00 price target on shares of Sanchez Energy Corporation in a report on Friday, March 31st. BMO Capital Markets reiterated a “hold” rating and set a $5.00 price target on shares of Sanchez Energy Corporation in a report on Tuesday, June 27th. Seaport Global Securities downgraded Sanchez Energy Corporation from a “buy” rating to a “sell” rating and lowered their price target for the company from $15.00 to $5.00 in a report on Wednesday, June 21st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $9.00 price objective (down previously from $11.00) on shares of Sanchez Energy Corporation in a research note on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.35.
Sanchez Energy Corporation (SN) traded up 3.30% on Thursday, reaching $5.01. 2,400,680 shares of the company were exchanged. Sanchez Energy Corporation has a 52 week low of $4.38 and a 52 week high of $14.39. The stock’s market capitalization is $383.99 million. The stock has a 50-day moving average price of $5.91 and a 200 day moving average price of $8.22. Sanchez Energy Corporation also was the recipient of unusually large options trading on Tuesday. Stock traders bought 11,044 put options on the company. This represents an increase of approximately 473% compared to the typical daily volume of 1,929 put options.
Sanchez Energy Corporation (NYSE:SN) last released its quarterly earnings data on Wednesday, August 9th. The energy producer reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.18. The company had revenue of $175.70 million during the quarter, compared to analysts’ expectations of $178.97 million. During the same quarter in the prior year, the company earned ($3.20) EPS. The business’s revenue was up 58.3% compared to the same quarter last year. Analysts forecast that Sanchez Energy Corporation will post ($0.57) earnings per share for the current year.
In other news, Director Greg Colvin acquired 20,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was purchased at an average cost of $6.75 per share, for a total transaction of $135,000.00. Following the completion of the transaction, the director now directly owns 92,151 shares in the company, valued at $622,019.25. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Kirsten A. Hink sold 38,634 shares of Sanchez Energy Corporation stock in a transaction dated Thursday, August 3rd. The stock was 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 of the company’s stock, valued at $895,517.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,926 shares of company stock valued at $438,989. 14.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SN. Vanguard Group Inc. raised its position in Sanchez Energy Corporation by 4.9% in the second quarter. Vanguard Group Inc. now owns 12,127,552 shares of the energy producer’s stock valued at $87,076,000 after buying an additional 569,664 shares during the last quarter. State Street Corp raised its position in Sanchez Energy Corporation by 50.0% in the second quarter. State Street Corp now owns 7,343,314 shares of the energy producer’s stock valued at $52,727,000 after buying an additional 2,446,795 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Sanchez Energy Corporation during the second quarter valued at about $32,388,000. Blackstone Group L.P. bought a new position in Sanchez Energy Corporation during the first quarter valued at about $18,651,000. Finally, Schroder Investment Management Group raised its position in Sanchez Energy Corporation by 44.8% in the second quarter. Schroder Investment Management Group now owns 1,894,000 shares of the energy producer’s stock valued at $13,504,000 after buying an additional 586,040 shares during the last quarter. Hedge funds and other institutional investors own 76.52% of the company’s stock.
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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