Sanchez Energy (SN) Shares Gap Down to $1.02

Sanchez Energy Corp (NYSE:SN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $0.87, but opened at $1.02. Sanchez Energy shares last traded at $1.04, with a volume of 1669929 shares traded.

A number of research firms have recently issued reports on SN. Royal Bank of Canada lowered shares of Sanchez Energy from an “outperform” rating to a “sector perform” rating and set a $7.00 price target for the company. in a research report on Wednesday, August 8th. Capital One Financial reissued an “underweight” rating on shares of Sanchez Energy in a research report on Tuesday, August 7th. Northland Securities reissued a “hold” rating and issued a $3.00 price target on shares of Sanchez Energy in a research report on Thursday, August 9th. SunTrust Banks set a $4.00 price target on shares of Sanchez Energy and gave the stock a “hold” rating in a research report on Wednesday, August 8th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $4.00 price target on shares of Sanchez Energy in a research report on Monday, August 13th. Two investment badysts have rated the stock with a sell rating and eleven have badigned a hold rating to the company. Sanchez Energy presently has an average rating of “Hold” and a consensus price target of $3.31.

The stock has a market cap of $105.04 million, a P/E ratio of -3.33 and a beta of 1.86.

Sanchez Energy (NYSE:SN) last released its quarterly earnings results on Thursday, November 1st. The energy producer reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.14). Sanchez Energy had a negative net margin of 9.24% and a negative return on equity of 8.96%. The firm had revenue of $277.71 million during the quarter, compared to the consensus estimate of $255.06 million. During the same period in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. As a group, sell-side badysts forecast that Sanchez Energy Corp will post -0.55 EPS for the current year.

In other news, CFO Howard J. Sr Thill, Sr. sold 21,877 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $2.46, for a total value of $53,817.42. Following the sale, the chief financial officer now owns 348,373 shares in the company, valued at $856,997.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 11.12% of the company’s stock.

Several institutional investors have recently made changes to their positions in SN. Allianz Asset Management GmbH grew its stake 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 worth $9,390,000 after acquiring an additional 2,785,563 shares during the last quarter. Fisher Asset Management LLC boosted its stake 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 buying an additional 197,446 shares in the last quarter. Price Capital Management Inc. acquired a new stake in Sanchez Energy during the second quarter worth $797,000. Sippican Capital Advisors boosted its stake in Sanchez Energy by 1,572.2% during the second quarter. Sippican Capital Advisors now owns 183,945 shares of the energy producer’s stock worth $831,000 after buying an additional 172,945 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Sanchez Energy by 28.5% during the third quarter. Wells Fargo & Company MN now owns 543,515 shares of the energy producer’s stock worth $1,251,000 after buying an additional 120,643 shares in the last quarter. Institutional investors and hedge funds own 48.29% of the company’s stock.

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Sanchez Energy Company Profile (NYSE:SN)

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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