Stone Energy Corporation (SGY) : Traders are bullish on Stone Energy Corporation (SGY) as it has outperformed the S&P 500 by a wide margin of 6.01% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 41.86%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 41.81% in the last 1 week, and is up 6.41% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Stone Energy Corp. is up 287.22% in the last 3-month period. Year-to-Date the stock performance stands at -67.51%. The stock has recorded a 20-day Moving Average of 26.77% and the 50-Day Moving Average is 19.83%.
Stone Energy Corporation (NYSE:SGY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.89 and $12.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.94, notching a gain of 12.87% for the day. The total traded volume was 6,862,989 . The stock had closed at $12.35 on the previous day.
Also, Barclays maintains their rating on the shares of Stone Energy Corporation (NYSE:SGY). The current rating of the shares is Equalweight. Equity Analysts at the Firm raises the price target to $3 per share from $0.5 per share. The rating by the firm was issued on June 15, 2016.
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.