Stone Energy Corporation (NYSE:SGY) : The consensus on Stone Energy Corporation (NYSE:SGY) based on 7 analyst recommendation on the company stock is 3.57, which is interpreted as a Sell recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.
Stone Energy Corporation (NYSE:SGY) : The highest level Stone Energy Corporation (NYSE:SGY) is projected to reach is $20 for the short term and the lowest estimate is at $3. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $8.17 and the possibility the share price can swing is $6.24.
Company shares have received an average consensus rating of Hold for the current week Also, Equity analysts at the Brokerage firm Barclays maintains its rating on Stone Energy Corporation (NYSE:SGY). The rating major has initiated the coverage with equalweight rating on the shares. The Analysts at Barclays raises the price target from $0.5 per share to $3 per share. The rating by the firm was issued on June 15, 2016.
Stone Energy Corporation (NYSE:SGY): stock turned positive on Tuesday. Though the stock opened at $8.81, the bulls momentum made the stock top out at $9.48 level for the day. The stock recorded a low of $8.43 and closed the trading day at $9.44, in the green by 14.15%. The total traded volume for the day was 1,822,670. The stock had closed at $8.27 in the previous days trading.
In an insider trading activity, The Securities and Exchange Commission has divulged that Welch David H, officer (Chairman, President & CEO) of Stone Energy Corp, had unloaded 11,000 shares at an average price of $14.64 in a transaction dated on March 31, 2015. The total value of the transaction was worth $161,040.
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.