Sanchez Energy Corporation (SN) Stake Raised by Franklin Resources Inc.
Franklin Resources Inc. lifted its holdings in Sanchez Energy Corporation (NYSE:SN) by 74.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,942 shares of the energy producer’s stock after buying an additional 23,366 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of Sanchez Energy Corporation worth $394,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Virginia Retirement Systems ET AL purchased a new position in Sanchez Energy Corporation during the 1st quarter valued at $105,000. ClariVest Asset Management LLC bought a new position in Sanchez Energy Corporation in the 1st quarter valued at $120,000. Mackay Shields LLC grew its position in Sanchez Energy Corporation by 25.4% in the 2nd quarter. Mackay Shields LLC now owns 16,611 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 3,362 shares during the last quarter. Legal & General Group Plc grew its position in Sanchez Energy Corporation by 27.4% in the 1st quarter. Legal & General Group Plc now owns 17,348 shares of the energy producer’s stock valued at $165,000 after acquiring an additional 3,733 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Sanchez Energy Corporation in the 1st quarter valued at $166,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.
Several analysts have recently weighed in on the company. Capital One Financial Corporation downgraded Sanchez Energy Corporation from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, July 26th. BidaskClub cut shares of Sanchez Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Sanchez Energy Corporation from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $10.00 price target on shares of Sanchez Energy Corporation in a research note on Thursday, July 20th. Finally, J P Morgan Chase & Co began coverage on shares of Sanchez Energy Corporation in a research note on Friday, September 15th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $11.71.
Shares of Sanchez Energy Corporation (NYSE:SN) opened at 4.75 on Wednesday. Sanchez Energy Corporation has a 12 month low of $3.96 and a 12 month high of $14.39. The stock’s market cap is $364.06 million. The stock has a 50 day moving average of $4.57 and a 200 day moving average of $6.48.
Sanchez Energy Corporation (NYSE:SN) last posted its quarterly earnings data on Wednesday, August 9th. The energy producer reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.18). The firm had revenue of $175.70 million during the quarter, compared to analyst estimates of $178.97 million. The company’s revenue for the quarter was up 58.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.20) earnings per share. On average, equities analysts anticipate that Sanchez Energy Corporation will post ($0.88) earnings per share for the current fiscal year.
In related news, VP Kirsten A. Hink sold 38,634 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $5.02, for a total value of $193,942.68. Following the completion of the sale, the vice president now directly owns 178,390 shares of the company’s stock, valued at approximately $895,517.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patricio D. Sanchez bought 320,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $4.55 per share, with a total value of $1,456,000.00. Following the completion of the transaction, the insider now owns 473,485 shares in the company, valued at $2,154,356.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 742,000 shares of company stock worth $3,379,220. 14.70% of the stock is owned by insiders.
Sanchez Energy Corporation Company Profile
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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