Teacher Retirement System of Texas acquired a new stake in Sanchez Energy Corp (NYSE:SN) in the fourth quarter, Holdings Channel reports. The firm acquired 24,642 shares of the energy producer’s stock, valued at approximately $131,000.
Other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its stake in Sanchez Energy by 180.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 21,841 shares of the energy producer’s stock valued at $105,000 after buying an additional 14,044 shares in the last quarter. Kalos Management Inc. purchased a new position in Sanchez Energy in the 3rd quarter valued at approximately $138,000. IFP Advisors Inc grew its stake in Sanchez Energy by 71.9% in the 4th quarter. IFP Advisors Inc now owns 26,350 shares of the energy producer’s stock valued at $140,000 after buying an additional 11,025 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Sanchez Energy in the 4th quarter valued at approximately $234,000. Finally, Kovack Advisors Inc. purchased a new position in Sanchez Energy in the 4th quarter valued at approximately $255,000. Institutional investors and hedge funds own 56.83% of the company’s stock.
In other Sanchez Energy news, VP Gregory B. Kopel sold 7,960 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $5.61, for a total value of $44,655.60. Following the completion of the transaction, the vice president now directly owns 109,488 shares of the company’s stock, valued at approximately $614,227.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Antonio R. Sanchez, Jr. sold 19,618 shares of Sanchez Energy stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $2.98, for a total transaction of $58,461.64. Following the sale, the chairman now directly owns 1,826,190 shares of the company’s stock, valued at $5,442,046.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,297 shares of company stock valued at $913,312. Insiders own 14.70% of the company’s stock.
Sanchez Energy (NYSE:SN) last announced its quarterly earnings results on Monday, February 26th. The energy producer reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.13. The firm had revenue of $246.00 million during the quarter, compared to the consensus estimate of $229.20 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 95.7% on a year-over-year basis. equities analysts expect that Sanchez Energy Corp will post 1.1 earnings per share for the current fiscal year.
A number of research firms recently weighed in on SN. Stifel Nicolaus set a $3.00 price objective on shares of Sanchez Energy and gave the company a “hold” rating in a research note on Wednesday. Piper Jaffray set a $4.00 price objective on shares of Sanchez Energy and gave the company a “hold” rating in a research note on Wednesday, March 14th. Zacks Investment Research lowered shares of Sanchez Energy from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. 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 research note on Tuesday, February 27th. Finally, SunTrust Banks reissued a “hold” rating and issued a $4.00 price target on shares of Sanchez Energy in a report on Monday, February 26th. Four equities research 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’s stock. The stock currently has an average rating of “Hold” and an average price target of $7.39.
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Sanchez Energy Company Profile
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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