An issue of Sanchez Energy (NYSE:SN) bonds rose 1.7% as a percentage of their face value during trading on Friday. The high-yield issue of debt has a 6.125% coupon and is set to mature on January 15, 2023. The debt is now trading at $77.19 and was trading at $74.00 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
SN has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Sanchez Energy from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Piper Jaffray reaffirmed a “hold” rating and set a $8.00 price objective on shares of Sanchez Energy in a report on Tuesday, January 9th. ValuEngine lowered shares of Sanchez Energy from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Northland Securities lowered shares of Sanchez Energy from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a report on Tuesday, February 27th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $4.00 price objective on shares of Sanchez Energy in a report on Monday, February 26th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $7.39.
Shares of SN traded down $0.06 during mid-day trading on Friday, hitting $3.67. 2,081,523 shares of the company traded hands, compared to its average volume of 3,408,034. Sanchez Energy has a one year low of $2.78 and a one year high of $8.68. The company has a debt-to-equity ratio of -4.12, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $325.79, a P/E ratio of -11.47 and a beta of 1.75.
In other Sanchez Energy news, insider Antonio R. Sanchez, Jr. sold 72,307 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $3.38, for a total value of $244,397.66. Following the transaction, the insider now directly owns 1,969,498 shares of the company’s stock, valued at $6,656,903.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Antonio R. Sanchez, Jr. sold 19,618 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $2.98, for a total transaction of $58,461.64. Following the completion of the transaction, the chairman now directly owns 1,826,190 shares in the company, valued at $5,442,046.20. The disclosure for this sale can be found here. Insiders have sold 112,949 shares of company stock worth $365,511 over the last three months. 14.70% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in SN. Millennium Management LLC boosted its stake in Sanchez Energy by 3,483.5% in the fourth quarter. Millennium Management LLC now owns 2,975,150 shares of the energy producer’s stock valued at $15,798,000 after acquiring an additional 2,892,127 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Sanchez Energy by 52.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,710,884 shares of the energy producer’s stock valued at $9,085,000 after acquiring an additional 586,756 shares during the last quarter. Penn Capital Management Co. Inc. boosted its stake in Sanchez Energy by 81.0% in the fourth quarter. Penn Capital Management Co. Inc. now owns 1,280,826 shares of the energy producer’s stock valued at $6,811,000 after acquiring an additional 573,043 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Sanchez Energy by 44.9% in the third quarter. JPMorgan Chase & Co. now owns 1,789,224 shares of the energy producer’s stock valued at $8,804,000 after acquiring an additional 554,240 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Sanchez Energy in the third quarter valued at approximately $1,904,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.
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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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