Zacks Investment Research Lowers Sanchez Energy Corp (NYSE:SN) to Sell

Zacks Investment Research downgraded shares of Sanchez Energy Corp (NYSE:SN) from a hold rating to a sell rating in a report released on Wednesday, July 19th.

According to Zacks, “Sanchez Energy Corporation is an independent oil and gas exploration and development company focused on the exploration, acquisition and development of unconventional oil and natural gas resources, primarily in the Eagle Ford Shale in South Texas. Sanchez Energy Corporation is headquartered in Houston, Texas. “

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets restated a hold rating and issued a $5.00 price objective on shares of Sanchez Energy Corp in a report on Tuesday, June 27th. Royal Bank Of Canada set a $13.00 price objective on Sanchez Energy Corp and gave the company a buy rating in a report on Saturday, June 24th. Seaport Global Securities cut Sanchez Energy Corp from a buy rating to a sell rating and reduced their price target for the stock from $15.00 to $5.00 in a report on Wednesday, June 21st. KLR Group reiterated a buy rating and set a $10.00 price target (down previously from $12.00) on shares of Sanchez Energy Corp in a report on Wednesday, May 17th. Finally, Stifel Nicolaus reiterated a hold rating and set a $9.00 price target (down previously from $11.00) on shares of Sanchez Energy Corp in a report on Thursday, April 27th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Sanchez Energy Corp presently has an average rating of Hold and an average target price of $12.35.

Sanchez Energy Corp (NYSE SN) traded down 1.63% during midday trading on Wednesday, hitting $4.82. The stock had a trading volume of 2,784,394 shares. The company’s market cap is $369.42 million. The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $8.43. Sanchez Energy Corp has a 12-month low of $4.38 and a 12-month high of $14.39.

Sanchez Energy Corp (NYSE:SN) last announced its quarterly earnings data on Wednesday, August 9th. The energy producer reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.18. The firm had revenue of $175.70 million during the quarter, compared to the consensus estimate of $178.97 million. Sanchez Energy Corp’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same period last year, the firm earned ($3.20) EPS. Equities analysts anticipate that Sanchez Energy Corp will post ($0.48) EPS for the current year.

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In other news, Director Thomas Brian Carney sold 10,204 shares of Sanchez Energy Corp stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $6.19, for a total value of $63,162.76. Following the completion of the sale, the director now directly owns 68,423 shares in the company, valued at $423,538.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kirsten A. Hink sold 38,634 shares of Sanchez Energy Corp stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $5.02, for a total transaction of $193,942.68. Following the completion of the sale, the vice president now owns 178,390 shares of the company’s stock, valued at $895,517.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,926 shares of company stock valued at $438,989. 14.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SN. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Sanchez Energy Corp during the first quarter valued at approximately $6,765,000. Fisher Asset Management LLC purchased a new position in shares of Sanchez Energy Corp during the first quarter valued at approximately $1,199,000. Nationwide Fund Advisors increased its position in shares of Sanchez Energy Corp by 44.1% in the first quarter. Nationwide Fund Advisors now owns 47,013 shares of the energy producer’s stock valued at $449,000 after buying an additional 14,388 shares in the last quarter. Sanders Morris Harris Inc. increased its position in shares of Sanchez Energy Corp by 6.4% in the first quarter. Sanders Morris Harris Inc. now owns 326,000 shares of the energy producer’s stock valued at $3,110,000 after buying an additional 19,700 shares in the last quarter. Finally, Mackay Shields LLC purchased a new position in shares of Sanchez Energy Corp during the first quarter valued at approximately $126,000. Institutional investors and hedge funds own 76.19% of the company’s stock.

Sanchez Energy Corp 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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