BMO Capital Markets Reiterates “Buy” Rating for Stone Energy Corporation (SGY)

Stone Energy Corporation (NYSE:SGY)‘s stock had its “buy” rating reissued by BMO Capital Markets in a research report issued to clients and investors on Wednesday. They presently have a $2.75 price target on the oil and natural gas company’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 91.73% from the company’s current price.

SGY has been the topic of several other research reports. Zacks Investment Research upgraded shares of Stone Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Scotiabank restated a “hold” rating and set a $2.50 target price on shares of Stone Energy Corporation in a report on Tuesday, October 10th. ValuEngine upgraded shares of Stone Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, BidaskClub upgraded shares of Stone Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Stone Energy Corporation currently has a consensus rating of “Hold” and an average price target of $5.08.

Stone Energy Corporation (SGY) opened at $33.25 on Wednesday. Stone Energy Corporation has a 1-year low of $14.76 and a 1-year high of $49.96. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.81.

Stone Energy Corporation (NYSE:SGY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.37. The company had revenue of $79.53 million for the quarter. Stone Energy Corporation had a net margin of 68.43% and a return on equity of 590.23%. During the same quarter last year, the business earned ($0.02) EPS. equities research analysts expect that Stone Energy Corporation will post -1.45 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its stake in Stone Energy Corporation by 85.4% during the 3rd quarter. Royce & Associates LP now owns 397,679 shares of the oil and natural gas company’s stock worth $11,557,000 after buying an additional 183,179 shares during the period. State Street Corp increased its stake in Stone Energy Corporation by 2,548.1% during the 2nd quarter. State Street Corp now owns 308,242 shares of the oil and natural gas company’s stock worth $5,669,000 after buying an additional 296,602 shares during the period. Northern Trust Corp purchased a new stake in Stone Energy Corporation during the 2nd quarter worth $3,650,000. Schwab Charles Investment Management Inc. increased its stake in Stone Energy Corporation by 25.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 118,457 shares of the oil and natural gas company’s stock worth $3,443,000 after buying an additional 23,793 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in Stone Energy Corporation during the 3rd quarter worth $2,486,000. 95.40% of the stock is currently owned by hedge funds and other institutional investors.

About Stone Energy Corporation

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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