Sanchez Energy (SN) Shares Down 12.9%

Sanchez Energy (NYSE:SN) dropped 12.9% during mid-day trading on Friday . The company traded as low as $3.71 and last traded at $3.24. Approximately 4,485,765 shares traded hands during mid-day trading, an increase of 33% from the average daily volume of 3,362,270 shares. The stock had previously closed at $3.72.

SN has been the subject of a number of recent research reports. Zacks Investment Research upgraded Sanchez Energy from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Wednesday, December 27th. Piper Jaffray reiterated a “hold” rating and issued a $8.00 target price on shares of Sanchez Energy in a research note on Tuesday, January 9th. ValuEngine lowered Sanchez Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Northland Securities lowered Sanchez Energy from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a research note on Tuesday, February 27th. Finally, SunTrust Banks restated a “hold” rating and set a $4.00 price objective on shares of Sanchez Energy in a research note on Monday, February 26th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.56.

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 company has a market cap of $315.60, a price-to-earnings ratio of -9.91 and a beta of 1.75.

Sanchez Energy (NYSE:SN) last issued its quarterly earnings data on Monday, February 26th. The energy producer reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.13. The business had revenue of $246.00 million for the quarter, compared to analyst estimates of $229.20 million. During the same quarter last year, the business earned $0.16 EPS. Sanchez Energy’s revenue for the quarter was up 95.7% compared to the same quarter last year. research analysts forecast that Sanchez Energy will post 1.06 earnings per share for the current year.

In other Sanchez Energy news, insider Patricio D. Sanchez sold 13,202 shares of the stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $3.72, for a total transaction of $49,111.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Christopher Heinson sold 13,203 shares of the stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $3.72, for a total value of $49,115.16. Following the transaction, the chief operating officer now directly owns 639,149 shares in the company, valued at approximately $2,377,634.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,913 shares of company stock worth $473,257. 14.70% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new stake in shares of Sanchez Energy in the 4th quarter worth approximately $177,000. Millennium Management LLC lifted its holdings in shares of Sanchez Energy by 3,483.5% in the 4th quarter. Millennium Management LLC now owns 2,975,150 shares of the energy producer’s stock worth $15,798,000 after purchasing an additional 2,892,127 shares during the last quarter. Western Asset Management Co. lifted its holdings in shares of Sanchez Energy by 183.4% in the 4th quarter. Western Asset Management Co. now owns 155,890 shares of the energy producer’s stock worth $828,000 after purchasing an additional 100,890 shares during the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Sanchez Energy by 10.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 218,981 shares of the energy producer’s stock worth $1,163,000 after purchasing an additional 21,370 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Sanchez Energy by 132.6% in the 4th quarter. Deutsche Bank AG now owns 168,321 shares of the energy producer’s stock worth $892,000 after purchasing an additional 95,949 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

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About Sanchez Energy

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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