An issue of Sanchez Energy Corp (NYSE:SN) bonds fell 8.3% against their face value during trading on Friday. The high-yield issue of debt has a 7.75% coupon and is set to mature on June 15, 2021. The debt is now trading at $67.69 and was trading at $87.31 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.
A number of brokerages have weighed in on SN. Stephens reaffirmed a “hold” rating and issued a $4.00 target price on shares of Sanchez Energy in a report on Tuesday, April 24th. Royal Bank of Canada downgraded Sanchez Energy from an “outperform” rating to a “sector perform” rating and set a $7.00 target price on the stock. in a report on Wednesday. ValuEngine downgraded Sanchez Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 10th. Stifel Nicolaus set a $2.00 target price on Sanchez Energy and gave the company a “hold” rating in a report on Tuesday, April 24th. Finally, KLR Group downgraded Sanchez Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Three research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.39.
Shares of Sanchez Energy traded down $0.15, reaching $2.90, during trading hours on Friday, according to MarketBeat Ratings. The stock had a trading volume of 6,376,809 shares, compared to its average volume of 3,322,744. Sanchez Energy Corp has a 12 month low of $2.78 and a 12 month high of $6.19. The company has a current ratio of 1.12, a quick ratio of 1.45 and a debt-to-equity ratio of -4.55.
Sanchez Energy (NYSE:SN) last announced its quarterly earnings results on Tuesday, August 7th. The energy producer reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.33). Sanchez Energy had a negative net margin of 15.50% and a negative return on equity of 8.74%. The firm had revenue of $259.31 million during the quarter, compared to the consensus estimate of $252.49 million. sell-side analysts predict that Sanchez Energy Corp will post -0.01 earnings per share for the current fiscal year.
In related news, VP Howard J. Sr Thill, Sr. sold 66,916 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $3.89, for a total transaction of $260,303.24. Following the completion of the transaction, the vice president now directly owns 370,250 shares of the company’s stock, valued at approximately $1,440,272.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Kirsten A. Hink sold 8,486 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $4.41, for a total value of $37,423.26. The disclosure for this sale can be found here. Insiders sold a total of 115,419 shares of company stock valued at $457,294 over the last quarter. 14.70% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC bought a new position in shares of Sanchez Energy in the 4th quarter worth about $177,000. Tiedemann Advisors LLC bought a new position in shares of Sanchez Energy in the 1st quarter worth about $207,000. Dynamic Technology Lab Private Ltd raised its position in shares of Sanchez Energy by 196.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,913 shares of the energy producer’s stock worth $215,000 after acquiring an additional 45,638 shares in the last quarter. GFS Advisors LLC raised its position in shares of Sanchez Energy by 42.0% in the 1st quarter. GFS Advisors LLC now owns 80,000 shares of the energy producer’s stock worth $234,000 after acquiring an additional 23,665 shares in the last quarter. Finally, Phoenix Investment Adviser LLC raised its position in shares of Sanchez Energy by 57.6% in the 1st quarter. Phoenix Investment Adviser LLC now owns 186,000 shares of the energy producer’s stock worth $582,000 after acquiring an additional 68,000 shares in the last quarter. 56.12% of the stock is owned by institutional investors and hedge funds.
About Sanchez Energy
Sanchez Energy Corporation, an independent exploration and production company, focuses on the acquisition and development of U.S. onshore unconventional oil and natural gas resources. It engages in the horizontal development of resources from the Eagle Ford Shale in South Texas. It also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.
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