Stone Energy Corporation (SGY) : Scoggin Management Lp added new position in Stone Energy Corporation during the most recent quarter end. The investment management firm now holds 75,000 shares of Stone Energy Corporation which is valued at $800,250 , the company said in a statement filed on Aug 9, 2016 with the SEC.Stone Energy Corporation makes up approximately 0.25% of Scoggin Management Lp’s portfolio.
Other Hedge Funds, Including , Teacher Retirement System Of Texas sold out all of its stake in SGY during the most recent quarter. The investment firm sold 694 shares of SGY which is valued $7,405. Adams Asset Advisors sold out all of its stake in SGY during the most recent quarter. The investment firm sold 2,916 shares of SGY which is valued $51,263. First Manhattan Co added SGY to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $9,850.Creative Planning reduced its stake in SGY by selling 1 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 2,960 shares of SGY which is valued at $66,748.
Stone Energy Corporation closed down -0.09 points or -0.93% at $9.62 with 5,71,660 shares getting traded on Wednesday. Post opening the session at $9.61, the shares hit an intraday low of $9.3 and an intraday high of $9.75 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Stone Energy Corporation reported $0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Feb 22, 2016. Analyst had a consensus of $0.10. The company had revenue of $110.50 million for the quarter, compared to analysts expectations of $109.73 million. The company’s revenue was down -40.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.07 EPS.
Many Wall Street Analysts have commented on Stone Energy Corporation. Company shares were Reiterated by Scotia Howard Weil on Jun 30, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 17 from a previous price target of $2 .Company shares were Reiterated by Barclays on Jun 15, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 3 from a previous price target of $0.50 .
Stone Energy Corporation is an independent oil and natural gas exploration and production company. The Company is engaged in the acquisition exploration exploitation development and operation of oil and gas properties in the Gulf of Mexico (GOM) basin. It seeks to acquire seismic data and leasehold interests in undeveloped onshore oil-focused plays and is focused on the GOM conventional shelf GOM deep water Gulf Coast deep gas and the Marcellus Shale in Appalachia. As of December 31 2014 the Companys estimated proved oil and natural gas reserves were approximately 153 million barrels of oil equivalent (Mmboe) or 915 billions of cubic feet equivalent (Bcfe). The Companys oil and natural gas production is sold at current market prices under short-term contracts. Shell Trading (US) Company and Phillips 66 Company accounted for approximately 32% and 31% respectively of its oil and natural gas revenue generated during the year ended December 31 2014.