Zacks Investment Research Upgrades Sanchez Energy (SN) to Buy
Sanchez Energy (NYSE:SN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $6.00 price objective on the energy producer’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.89% from the stock’s current price.
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 analysts have also recently weighed in on the stock. ValuEngine cut shares of Sanchez Energy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. JPMorgan Chase & Co. started coverage on shares of Sanchez Energy in a research report on Friday, September 15th. They issued a “neutral” rating for the company. Piper Jaffray Companies restated a “neutral” rating and issued a $6.00 price target (down previously from $14.00) on shares of Sanchez Energy in a research report on Monday, September 18th. BMO Capital Markets set a $5.00 price target on shares of Sanchez Energy and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus set a $5.00 price target on shares of Sanchez Energy and gave the company a “hold” rating in a research report on Thursday, October 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $9.46.
Shares of Sanchez Energy (NYSE SN) opened at $5.51 on Wednesday. The firm has a market cap of $463.55, a P/E ratio of 19.68 and a beta of 1.72. Sanchez Energy has a 1-year low of $3.58 and a 1-year high of $14.39. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of -3.72.
In related news, VP Howard J. Sr Thill, Sr. sold 16,499 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $4.27, for a total value of $70,450.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in Sanchez Energy by 485.9% in the 2nd quarter. SG Americas Securities LLC now owns 180,093 shares of the energy producer’s stock worth $1,293,000 after buying an additional 149,355 shares in the last quarter. Sei Investments Co. lifted its position in Sanchez Energy by 8.2% in the 2nd quarter. Sei Investments Co. now owns 156,185 shares of the energy producer’s stock worth $1,121,000 after buying an additional 11,863 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in Sanchez Energy by 41.1% in the 2nd quarter. Baker Avenue Asset Management LP now owns 160,856 shares of the energy producer’s stock worth $1,155,000 after buying an additional 46,841 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Sanchez Energy in the 2nd quarter worth approximately $32,388,000. Finally, Nomura Holdings Inc. bought a new position in shares of Sanchez Energy during the 2nd quarter valued at $359,000. Institutional investors own 59.05% 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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