Sanchez Energy Corporation (SN) Shares Gap Up to $4.30

Sanchez Energy Corporation (NYSE:SN)’s share price gapped up before the market opened on Monday . The stock had previously closed at $4.19, but opened at $4.30. Sanchez Energy Corporation shares last traded at $4.39, with a volume of 1,255,822 shares trading hands.

SN has been the subject of several research reports. BMO Capital Markets set a $5.00 price objective on shares of Sanchez Energy Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. Stifel Nicolaus set a $5.00 price objective on shares of Sanchez Energy Corporation and gave the company a “hold” rating in a research report on Thursday, October 5th. Seaport Global Securities upgraded shares of Sanchez Energy Corporation from a “sell” rating to a “neutral” rating and set a $4.50 price objective for the company in a research report on Wednesday, October 4th. Piper Jaffray Companies restated a “neutral” rating and issued a $6.00 price objective (down previously from $14.00) on shares of Sanchez Energy Corporation in a research report on Monday, September 18th. Finally, J P Morgan Chase & Co initiated coverage on shares of Sanchez Energy Corporation in a research report on Friday, September 15th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.45.

The company has a 50 day moving average of $4.52 and a 200 day moving average of $6.20. The firm’s market capitalization is $332.63 million.

Sanchez Energy Corporation (NYSE:SN) last posted its earnings results on Wednesday, August 9th. The energy producer reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.18). The firm had revenue of $175.70 million for the quarter, compared to analysts’ expectations of $178.97 million. The company’s revenue was up 58.3% on a year-over-year basis. During the same period in the prior year, the business earned ($3.20) earnings per share. On average, equities analysts expect that Sanchez Energy Corporation will post ($0.88) earnings per share for the current year.

In related news, CAO Kirsten A. Hink sold 36,088 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $5.04, for a total value of $181,883.52. Following the completion of the transaction, the chief accounting officer now owns 178,390 shares in the company, valued at approximately $899,085.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Howard J. Sr Thill, Sr. sold 16,499 shares of the firm’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 transaction of $70,450.73. The disclosure for this sale can be found here. In the last three months, insiders bought 742,000 shares of company stock valued at $3,379,220 and sold 91,221 shares valued at $446,277. 14.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Sanchez Energy Corporation by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,127,552 shares of the energy producer’s stock valued at $87,076,000 after buying an additional 569,664 shares during the last quarter. State Street Corp raised its holdings in Sanchez Energy Corporation by 50.0% in the 2nd quarter. State Street Corp now owns 7,343,314 shares of the energy producer’s stock valued at $52,727,000 after buying an additional 2,446,795 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Sanchez Energy Corporation in the 2nd quarter valued at approximately $32,388,000. Blackstone Group L.P. bought a new position in Sanchez Energy Corporation in the 1st quarter valued at approximately $18,651,000. Finally, Schroder Investment Management Group raised its holdings in Sanchez Energy Corporation by 44.8% in the 2nd quarter. Schroder Investment Management Group now owns 1,894,000 shares of the energy producer’s stock valued at $13,504,000 after buying an additional 586,040 shares during the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

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About Sanchez Energy Corporation

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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