Stone Energy Corporation (SGY) was Downgraded by Johnson Rice to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Johnson Rice advised their investors in a research report released on Apr 18, 2016.
Many Wall Street Analysts have commented on Stone Energy Corporation. Stone Energy Corporation was Downgraded by Piper Jaffray to ” Underweight” on Mar 11, 2016. Shares were Reiterated by Barclays on Feb 29, 2016 to “Equal Weight” and Lowered the Price Target to $ 1 from a previous price target of $3 .Shares were Reiterated by Imperial Capital on Feb 24, 2016 to “In-line” and Lowered the Price Target to $ 1.25 from a previous price target of $2.75 .
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.
Stone Energy Corporation opened for trading at $0.8525 and hit $1.04 on the upside on Friday, eventually ending the session at $1.03, with a gain of 11.94% or 0.1099 points. The heightened volatility saw the trading volume jump to 39,88,386 shares. Company has a market cap of $59 M.
In a different news, on Apr 1, 2015, David H Welch (Chairman, President & CEO) sold 11,000 shares at $14.64 per share price.
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.