California State Teachers Retirement System purchased a new stake in Stone Energy Corporation (NYSE:SGY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,600 shares of the oil and natural gas company’s stock, valued at approximately $636,000. California State Teachers Retirement System owned approximately 0.17% of Stone Energy as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in SGY. State Street Corp grew its stake in Stone Energy by 2,548.1% in the 2nd quarter. State Street Corp now owns 308,242 shares of the oil and natural gas company’s stock valued at $5,669,000 after buying an additional 296,602 shares during the last quarter. Royce & Associates LP bought a new stake in Stone Energy in the 2nd quarter valued at $3,943,000. Northern Trust Corp bought a new stake in Stone Energy in the 2nd quarter valued at $3,650,000. Schwab Charles Investment Management Inc. bought a new stake in Stone Energy in the 2nd quarter valued at $1,740,000. Finally, TIAA CREF Investment Management LLC bought a new position in shares of Stone Energy during the 2nd quarter worth about $1,572,000. Hedge funds and other institutional investors own 97.09% of the company’s stock.
Shares of Stone Energy Corporation (SGY) traded up $0.19 on Wednesday, reaching $25.43. 128,200 shares of the company’s stock were exchanged, compared to its average volume of 219,632. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.20 and a current ratio of 2.20. Stone Energy Corporation has a 1 year low of $16.50 and a 1 year high of $49.96.
A number of research firms have recently commented on SGY. ValuEngine downgraded shares of Stone Energy from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. National Securities cut shares of Stone Energy from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 28th. BMO Capital Markets restated a “buy” rating and issued a $2.75 price objective on shares of Stone Energy in a research report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Stone Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Scotiabank reiterated a “hold” rating and set a $2.50 price target on shares of Stone Energy in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.08.
Stone Energy Company Profile
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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