California Public Employees Retirement System reduced its stake in Stone Energy Co. (NYSE:SGY) by 88.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 195,318 shares of the company’s stock after selling 1,427,269 shares during the period. California Public Employees Retirement System owned approximately 3.50% of Stone Energy worth $2,356,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Stone Energy by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,515,279 shares of the company’s stock worth $1,197,000 after buying an additional 24,376 shares during the period. A.R.T. Advisors LLC boosted its stake in shares of Stone Energy by 3,620.8% in the first quarter. A.R.T. Advisors LLC now owns 958,410 shares of the company’s stock worth $757,000 after buying an additional 932,652 shares during the period. Spark Investment Management LLC bought a new stake in shares of Stone Energy during the first quarter worth $300,000. Geode Capital Management LLC boosted its stake in shares of Stone Energy by 0.8% in the first quarter. Geode Capital Management LLC now owns 343,674 shares of the company’s stock worth $271,000 after buying an additional 2,896 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Stone Energy during the first quarter worth $188,000. Institutional investors and hedge funds own 35.90% of the company’s stock.
Shares of Stone Energy Co. (NYSE:SGY) traded up 1.77% on Monday, hitting $12.09. The stock had a trading volume of 347,505 shares. Stone Energy Co. has a 12-month low of $2.70 and a 12-month high of $98.40. The stock has a 50 day moving average price of $11.36 and a 200-day moving average price of $10.04. The company’s market cap is $67.58 million.
Stone Energy (NYSE:SGY) last released its earnings results on Tuesday, August 2nd. The company reported ($7.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($6.42) by $1.03. The company earned $89.32 million during the quarter, compared to analysts’ expectations of $79.01 million. Stone Energy had a negative net margin of 241.14% and a negative return on equity of 39.01%. During the same quarter last year, the business posted ($1.69) earnings per share. On average, equities analysts expect that Stone Energy Co. will post ($0.06) earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. Barclays PLC upped their price objective on Stone Energy to $3.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 15th. Zacks Investment Research cut Stone Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Howard Weil upped their price objective on Stone Energy to $17.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 30th. Finally, National Securities restated a “neutral” rating and set a $7.00 price objective on shares of Stone Energy in a research note on Wednesday, August 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.71.
About Stone Energy
Stone Energy Corporation is an independent oil and natural gas company. The Company is engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. The Company operates in the Gulf of Mexico (GOM) basin. It has leveraged its operations in the GOM conventional shelf and has its reserve base in the prolific basins of the GOM deep water, Gulf Coast deep gas, and the Marcellus and Utica shales in Appalachia.
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