SUNDANCE ENERGY/S (NASDAQ:SNDE) Rating Lowered to Sell at Zacks Investment Research

SUNDANCE ENERGY/S (NASDAQ:SNDE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Sundance Energy Australia Limited is focused on the acquisition and development of oil and gas. Its asset primarily located in premier North American resource plays. Sundance Energy Australia Limited is headquareted in DENVER CO. “

A number of other research firms have also weighed in on SNDE. ValuEngine upgraded SUNDANCE ENERGY/S from a “hold” rating to a “buy” rating in a research note on Wednesday, May 27th. SunTrust Banks decreased their price objective on shares of SUNDANCE ENERGY/S from $7.00 to $2.00 and set a “hold” rating for the company in a report on Monday, May 18th. Finally, Northland Securities cut shares of SUNDANCE ENERGY/S from an “outperform” rating to a “hold” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.25.

Shares of SNDE stock traded down $0.03 on Tuesday, reaching $2.75. 308 shares of the company’s stock were exchanged, compared to its average volume of 368,633. The company’s fifty day simple moving average is $2.93 and its 200 day simple moving average is $7.78. SUNDANCE ENERGY/S has a 52 week low of $1.00 and a 52 week high of $23.78. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $18.49 million, a PE ratio of -4.79 and a beta of 3.33.

A number of large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its holdings in SUNDANCE ENERGY/S by 410.8% during the 4th quarter. Citigroup Inc. now owns 136,015 shares of the energy company’s stock worth $2,582,000 after acquiring an additional 109,389 shares in the last quarter. Verus Capital Partners LLC purchased a new stake in shares of SUNDANCE ENERGY/S in the 4th quarter worth approximately $38,000. Advisory Research Inc. bought a new position in shares of SUNDANCE ENERGY/S during the first quarter valued at approximately $981,000. Finally, Morgan Stanley purchased a new position in SUNDANCE ENERGY/S during the first quarter valued at approximately $440,000. 19.35% of the stock is owned by institutional investors.

SUNDANCE ENERGY/S Company Profile

Sundance Energy Australia Limited operates as an onshore oil and gas company in the United States. The company explores for, develops, and produces oil and natural gas. Its exploration and development activities are focused on the Eagle Ford project in the South-Texas-Gulf Coast Basin. Sundance Energy Australia Limited was incorporated in 2004 and is based in Wayville, Australia.

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