Sanchez Energy Corp (SN) Position Reduced by Sei Investments Co.
Sei Investments Co. decreased its position in Sanchez Energy Corp (NYSE:SN) by 9.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 141,490 shares of the energy producer’s stock after selling 14,695 shares during the period. Sei Investments Co. owned about 0.17% of Sanchez Energy worth $682,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Sanchez Energy by 485.9% in the 2nd quarter. SG Americas Securities LLC now owns 180,093 shares of the energy producer’s stock worth $1,293,000 after purchasing an additional 149,355 shares during the period. Baker Avenue Asset Management LP boosted its stake in Sanchez Energy by 41.1% in the 2nd quarter. Baker Avenue Asset Management LP now owns 160,856 shares of the energy producer’s stock worth $1,155,000 after purchasing an additional 46,841 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in Sanchez Energy in the 2nd quarter worth approximately $32,388,000. Nomura Holdings Inc. acquired a new position in Sanchez Energy in the 2nd quarter worth approximately $359,000. Finally, Northern Trust Corp boosted its stake in Sanchez Energy by 13.9% in the 2nd quarter. Northern Trust Corp now owns 893,791 shares of the energy producer’s stock worth $6,417,000 after purchasing an additional 109,054 shares during the period. 59.48% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Patricio D. Sanchez bought 320,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $4.55 per share, for a total transaction of $1,456,000.00. Following the purchase, the insider now owns 473,485 shares of the company’s stock, valued at approximately $2,154,356.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Howard J. Sr Thill, Sr. sold 16,499 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $4.27, for a total transaction of $70,450.73. The disclosure for this sale can be found here. Insiders have bought a total of 742,000 shares of company stock worth $3,379,220 in the last 90 days. 14.70% of the stock is owned by insiders.
Sanchez Energy Corp (NYSE SN) traded up $0.12 during trading on Friday, hitting $4.86. 2,033,643 shares of the stock were exchanged, compared to its average volume of 2,791,813. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of -3.72. Sanchez Energy Corp has a fifty-two week low of $3.58 and a fifty-two week high of $14.39.
A number of research firms recently commented on SN. BMO Capital Markets set a $5.00 price objective on shares of Sanchez Energy and gave the stock a “hold” rating in a research note on Tuesday, October 10th. SunTrust Banks reiterated a “hold” rating and issued a $5.00 target price on shares of Sanchez Energy in a research report on Friday, October 20th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $6.00 target price (down previously from $14.00) on shares of Sanchez Energy in a research report on Monday, September 18th. Stifel Nicolaus set a $5.00 target price on shares of Sanchez Energy and gave the stock a “hold” rating in a research report on Thursday, October 5th. Finally, Seaport Global Securities upgraded shares of Sanchez Energy from a “sell” rating to a “neutral” rating and set a $4.50 target price for the company in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Sanchez Energy presently has a consensus rating of “Hold” and a consensus price target of $10.44.
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About Sanchez Energy
Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of the United States onshore unconventional oil and natural gas resources. The Company primarily focuses on the Eagle Ford Shale in South Texas. The Company also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
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