Sanchez Energy Corporation (SN) Posts Earnings Results, Misses Estimates By $0.18 EPS
Sanchez Energy Corporation (NYSE:SN) posted its quarterly earnings data on Wednesday. The energy producer reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.18, Morningstar.com reports. The firm had revenue of $175.70 million during the quarter, compared to analysts’ expectations of $178.97 million. During the same quarter in the prior year, the firm posted ($3.20) earnings per share. The firm’s quarterly revenue was up 58.3% on a year-over-year basis.
Shares of Sanchez Energy Corporation (SN) traded down 3.27% during mid-day trading on Friday, hitting $4.74. The stock had a trading volume of 2,202,967 shares. The stock’s market cap is $362.11 million. The firm has a 50 day moving average of $6.07 and a 200-day moving average of $8.49. Sanchez Energy Corporation has a one year low of $4.38 and a one year high of $14.39.
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A number of research firms recently commented on SN. Zacks Investment Research cut Sanchez Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, April 14th. Stifel Nicolaus reissued a “hold” rating and issued a $9.00 price target (down from $11.00) on shares of Sanchez Energy Corporation in a report on Thursday, April 27th. Royal Bank Of Canada set a $14.00 price target on Sanchez Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, April 25th. Seaport Global Securities cut Sanchez Energy Corporation from a “buy” rating to a “sell” rating and lowered their price target for the stock from $15.00 to $5.00 in a report on Wednesday, June 21st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $5.00 price target on shares of Sanchez Energy Corporation in a report on Tuesday, June 27th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $12.35.
In other Sanchez Energy Corporation news, Director Thomas Brian Carney sold 10,204 shares of Sanchez Energy Corporation stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $6.19, for a total value of $63,162.76. Following the sale, the director now owns 68,423 shares in the company, valued at $423,538.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg Colvin bought 20,000 shares of Sanchez Energy Corporation stock in a transaction on Friday, May 19th. The stock was acquired at an average price of $6.75 per share, for a total transaction of $135,000.00. Following the transaction, the director now directly owns 92,151 shares of the company’s stock, valued at $622,019.25. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 84,926 shares of company stock worth $438,989. Company insiders own 14.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL purchased a new stake in shares of Sanchez Energy Corporation during the first quarter worth $105,000. ClariVest Asset Management LLC bought a new position in Sanchez Energy Corporation during the first quarter valued at approximately $120,000. Mackay Shields LLC bought a new position in Sanchez Energy Corporation during the first quarter valued at approximately $126,000. 361 Capital LLC bought a new position in Sanchez Energy Corporation during the first quarter valued at approximately $129,000. Finally, Legal & General Group Plc boosted its position in Sanchez Energy Corporation by 27.4% in the first quarter. Legal & General Group Plc now owns 17,348 shares of the energy producer’s stock valued at $165,000 after buying an additional 3,733 shares during the last quarter. Institutional investors own 76.19% of the company’s stock.
About Sanchez Energy Corporation
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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