Wells Fargo & Company MN boosted its holdings in Sanchez Energy Corp (NYSE:SN) by 28.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 543,515 shares of the energy producer’s stock after purchasing an additional 120,643 shares during the quarter. Wells Fargo & Company MN’s holdings in Sanchez Energy were worth $1,251,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Sanchez Energy by 2.6% during the second quarter. BlackRock Inc. now owns 3,903,130 shares of the energy producer’s stock valued at $17,642,000 after acquiring an additional 99,271 shares during the period. Congress Asset Management Co. MA boosted its holdings in shares of Sanchez Energy by 12.0% during the third quarter. Congress Asset Management Co. MA now owns 589,386 shares of the energy producer’s stock valued at $1,356,000 after acquiring an additional 63,220 shares during the period. Jane Street Group LLC boosted its holdings in shares of Sanchez Energy by 73.8% during the second quarter. Jane Street Group LLC now owns 135,695 shares of the energy producer’s stock valued at $613,000 after acquiring an additional 57,627 shares during the period. Northern Trust Corp boosted its holdings in shares of Sanchez Energy by 6.1% during the second quarter. Northern Trust Corp now owns 921,311 shares of the energy producer’s stock valued at $4,165,000 after acquiring an additional 52,905 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Sanchez Energy by 74.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 120,330 shares of the energy producer’s stock valued at $544,000 after acquiring an additional 51,417 shares during the period. 40.32% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Howard J. Sr Thill, Sr. sold 21,877 shares of Sanchez Energy stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $2.46, for a total transaction of $53,817.42. Following the sale, the chief financial officer now directly owns 348,373 shares in the company, valued at $856,997.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 33,452 shares of company stock worth $56,753. Company insiders own 11.12% of the company’s stock.
Shares of NYSE SN opened at $0.27 on Friday. Sanchez Energy Corp has a fifty-two week low of $0.22 and a fifty-two week high of $6.15. The stock has a market cap of $24.88 million, a P/E ratio of -0.84 and a beta of 2.47.
Sanchez Energy (NYSE:SN) last issued its quarterly earnings data on Thursday, November 1st. The energy producer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). Sanchez Energy had a negative net margin of 9.24% and a negative return on equity of 8.96%. The company had revenue of $277.71 million for the quarter, compared to the consensus estimate of $255.06 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Sanchez Energy’s revenue for the quarter was up 50.3% compared to the same quarter last year. On average, research analysts predict that Sanchez Energy Corp will post -0.63 EPS for the current year.
Several equities analysts have recently issued reports on the stock. SunTrust Banks set a $2.00 price target on shares of Sanchez Energy and gave the company a “hold” rating in a report on Tuesday, October 23rd. Royal Bank of Canada reissued a “hold” rating and set a $2.50 price target on shares of Sanchez Energy in a report on Tuesday, November 6th. Zacks Investment Research downgraded shares of Sanchez Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, December 1st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $0.90 price target on shares of Sanchez Energy in a report on Monday, November 26th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $2.34.
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Sanchez Energy Company Profile
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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