Stone Energy Corporation (SGY) has risen sharply, recording gains of 57.45% in the past 4 weeks. However, the stock has corrected -32.23% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 47.49% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Stone Energy Corporation (NYSE:SGY): The stock opened at $12.61 on Friday but the bulls could not build on the opening and the stock topped out at $13.79 for the day. The stock traded down to $12.28 during the day, due to lack of any buying support eventually closed down at $13.10 with a loss of -0.15% for the day. The stock had closed at $13.12 on the previous day. The total traded volume was 2,097,655 shares.
The stock has recorded a 20-day Moving Average of 13.1% and the 50-Day Moving Average is 42.97%. Stone Energy Corp. is up 37.89% in the last 3-month period. Year-to-Date the stock performance stands at -69.46%.
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.