Sanchez Energy Corp (NYSE:SN) dropped 1% during mid-day trading on Tuesday . The company traded as low as $5.20 and last traded at $5.31. Approximately 1,398,522 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 3,606,844 shares. The stock had previously closed at $5.26.
SN has been the subject of a number of research reports. BMO Capital Markets set a $5.00 price objective on shares of Sanchez Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. J P Morgan Chase & Co initiated coverage on shares of Sanchez Energy in a research note on Friday, September 15th. They issued a “neutral” rating for the company. ValuEngine cut shares of Sanchez Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Piper Jaffray Companies reissued a “hold” rating and set a $6.00 price target on shares of Sanchez Energy in a research report on Sunday, October 22nd. Finally, Zacks Investment Research raised shares of Sanchez Energy from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $10.44.
The company has a debt-to-equity ratio of -3.72, a current ratio of 0.88 and a quick ratio of 0.88.
In related news, CEO Antonio R. Sanchez III acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was acquired at an average cost of $4.45 per share, for a total transaction of $445,000.00. Following the acquisition, the chief executive officer now owns 1,494,783 shares of the company’s stock, valued at $6,651,784.35. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Howard J. Sr Thill, Sr. sold 16,499 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $4.27, for a total transaction of $70,450.73. The disclosure for this sale can be found here. Insiders acquired a total of 742,000 shares of company stock valued at $3,379,220 over the last 90 days. Company insiders own 14.70% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in shares of Sanchez Energy by 27.4% in the 1st quarter. Legal & General Group Plc now owns 17,348 shares of the energy producer’s stock worth $165,000 after acquiring an additional 3,733 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Sanchez Energy by 180.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 21,841 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 14,044 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Sanchez Energy during the 2nd quarter valued at about $174,000. Cambridge Investment Research Advisors Inc. increased its stake in Sanchez Energy by 6.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 25,400 shares of the energy producer’s stock valued at $182,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Kalos Management Inc. bought a new stake in Sanchez Energy during the 3rd quarter valued at about $138,000. Institutional investors own 59.48% of the company’s stock.
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Sanchez Energy 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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