Royce & Associates LP Boosts Position in Stone Energy Corporation (SGY)
Royce & Associates LP increased its position in Stone Energy Corporation (NYSE:SGY) by 85.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 397,679 shares of the oil and natural gas company’s stock after purchasing an additional 183,179 shares during the period. Royce & Associates LP owned 1.99% of Stone Energy worth $11,557,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Nationwide Fund Advisors acquired a new position in Stone Energy in the second quarter valued at approximately $204,000. Federated Investors Inc. PA acquired a new position in Stone Energy in the second quarter valued at approximately $207,000. Sei Investments Co. boosted its stake in Stone Energy by 12.7% in the second quarter. Sei Investments Co. now owns 13,039 shares of the oil and natural gas company’s stock valued at $240,000 after acquiring an additional 1,465 shares during the period. New York State Common Retirement Fund acquired a new position in Stone Energy in the second quarter valued at approximately $384,000. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Stone Energy during the second quarter valued at approximately $386,000. Institutional investors and hedge funds own 97.09% of the company’s stock.
A number of research firms have recently weighed in on SGY. BidaskClub cut Stone Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. ValuEngine cut Stone Energy from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Scotiabank reaffirmed a “hold” rating and set a $2.50 price target on shares of Stone Energy in a report on Tuesday, October 10th. National Securities cut Stone Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, November 28th. Finally, Zacks Investment Research raised Stone Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.08.
Stone Energy Corporation (NYSE SGY) traded up $0.19 on Wednesday, hitting $25.43. The stock had a trading volume of 128,200 shares, compared to its average volume of 219,632. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.81. Stone Energy Corporation has a 52 week low of $16.50 and a 52 week high of $49.96.
Stone Energy (NYSE:SGY) last announced its earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.37. Stone Energy had a return on equity of 590.23% and a net margin of 68.43%. The firm had revenue of $79.53 million for the quarter. During the same period in the previous year, the firm earned ($0.02) EPS. analysts anticipate that Stone Energy Corporation will post -1.17 earnings per share for the current year.
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About Stone Energy
Stone Energy Corporation is an independent oil and natural gas company. The Company is engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. The Company operates in the Gulf of Mexico (GOM) basin. It has leveraged its operations in the GOM conventional shelf and has its reserve base in the prolific basins of the GOM deep water, Gulf Coast deep gas, and the Marcellus and Utica shales in Appalachia.
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