Sanchez Energy (NYSE:SN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.
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. “
A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. began coverage on Sanchez Energy in a research note on Friday, September 15th. They issued a “neutral” rating on the stock. Piper Jaffray Companies reiterated a “neutral” rating and issued a $6.00 target price (down from $14.00) on shares of Sanchez Energy in a research note on Monday, September 18th. Seaport Global Securities upgraded Sanchez Energy from a “sell” rating to a “neutral” rating and set a $4.50 target price on the stock in a research note on Wednesday, October 4th. Stifel Nicolaus set a $5.00 target price on Sanchez Energy and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, BMO Capital Markets set a $5.00 target price on Sanchez Energy and gave the company a “hold” rating in a research note on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Sanchez Energy currently has an average rating of “Hold” and an average price target of $9.62.
Sanchez Energy (NYSE SN) opened at $5.99 on Friday. Sanchez Energy has a one year low of $3.58 and a one year high of $14.39. The stock has a market capitalization of $491.32, a price-to-earnings ratio of 119.80 and a beta of 1.72. The company has a debt-to-equity ratio of -3.72, a quick ratio of 0.88 and a current ratio of 0.88.
In related news, insider Eduardo Augusto Sanchez sold 250,337 shares of Sanchez Energy stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $4.66, for a total transaction of $1,166,570.42. Following the sale, the insider now directly owns 985,644 shares in the company, valued at $4,593,101.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory B. Kopel sold 7,960 shares of Sanchez Energy stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $5.61, for a total transaction of $44,655.60. Following the sale, the vice president now owns 109,488 shares in the company, valued at $614,227.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 605,022 shares of company stock worth $2,880,942. Company insiders own 14.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Sanchez Energy by 4.9% during the second quarter. Vanguard Group Inc. now owns 12,127,552 shares of the energy producer’s stock worth $87,076,000 after acquiring an additional 569,664 shares during the period. State Street Corp grew its holdings in Sanchez Energy by 50.0% during the second quarter. State Street Corp now owns 7,343,314 shares of the energy producer’s stock worth $52,727,000 after acquiring an additional 2,446,795 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in Sanchez Energy during the second quarter worth about $32,388,000. JPMorgan Chase & Co. grew its holdings in Sanchez Energy by 44.9% during the third quarter. JPMorgan Chase & Co. now owns 1,789,224 shares of the energy producer’s stock worth $8,804,000 after acquiring an additional 554,240 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Sanchez Energy by 92.9% during the second quarter. Janus Henderson Group PLC now owns 919,011 shares of the energy producer’s stock worth $6,598,000 after acquiring an additional 442,499 shares during the period. Institutional investors and hedge funds own 59.05% of the company’s stock.
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About Sanchez Energy
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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