An issue of Sanchez Energy Corp (NYSE:SN) bonds fell 1.5% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 7.75% coupon and will mature on June 15, 2021. The bonds in the issue are now trading at $96.38 and were trading at $97.75 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.
SN has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Sanchez Energy Corp from a “hold” rating to a “sell” rating in a research report on Friday, April 14th. Piper Jaffray Companies upgraded shares of Sanchez Energy Corp from a “neutral” rating to an “overweight” rating and set a $17.00 price target on the stock in a research report on Thursday, February 2nd. Royal Bank of Canada set a $14.00 price target on shares of Sanchez Energy Corp and gave the company a “buy” rating in a research report on Tuesday, April 25th. FBR & Co reduced their price target on shares of Sanchez Energy Corp from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 15th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $9.00 price target (down from $11.00) on shares of Sanchez Energy Corp in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.19.
Sanchez Energy Corp (NYSE:SN) traded down 7.79% during mid-day trading on Thursday, reaching $6.63. 4,780,346 shares of the company traded hands. The company’s 50 day moving average price is $7.85 and its 200 day moving average price is $9.53. The firm’s market capitalization is $503.42 million. Sanchez Energy Corp has a 12-month low of $5.64 and a 12-month high of $14.39.
Sanchez Energy Corp (NYSE:SN) last issued its quarterly earnings data on Tuesday, May 9th. The energy producer reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.84. The company had revenue of $133.80 million during the quarter, compared to the consensus estimate of $128.68 million. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Sanchez Energy Corp’s quarterly revenue was up 67.7% compared to the same quarter last year. Equities research analysts predict that Sanchez Energy Corp will post $0.05 EPS for the current year.
In related news, VP Christopher Heinson sold 22,730 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $7.68, for a total transaction of $174,566.40. Following the sale, the vice president now owns 598,925 shares of the company’s stock, valued at $4,599,744. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Kirsten A. Hink sold 4,129 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $8.31, for a total value of $34,311.99. Following the sale, the chief accounting officer now directly owns 205,844 shares in the company, valued at approximately $1,710,563.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,029 shares of company stock worth $501,141. 15.32% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Virginia Retirement Systems ET AL bought a new stake in shares of Sanchez Energy Corp during the first quarter worth $105,000. ClariVest Asset Management LLC acquired a new stake in Sanchez Energy Corp during the first quarter worth approximately $120,000. Mackay Shields LLC acquired a new stake in Sanchez Energy Corp during the first quarter worth approximately $126,000. 361 Capital LLC acquired a new stake in Sanchez Energy Corp during the first quarter worth approximately $129,000. Finally, Legal & General Group Plc boosted its stake in Sanchez Energy Corp by 27.4% in the first quarter. Legal & General Group Plc now owns 17,348 shares of the energy producer’s stock worth $165,000 after buying an additional 3,733 shares during the period. 60.56% of the stock is currently owned by institutional investors.
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About Sanchez Energy Corp
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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