Sanchez Energy (SN) Debt Trading 4.9% Lower

An issue of Sanchez Energy Corp (NYSE:SN) bonds fell 4.9% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 6.125% coupon and will mature on January 15, 2023. The debt is now trading at $50.63 and was trading at $60.40 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

Several analysts recently weighed in on SN shares. Stifel Nicolaus set a $2.00 target price on Sanchez Energy and gave the company a “hold” rating in a research note on Tuesday, April 24th. SunTrust Banks set a $4.00 target price on Sanchez Energy and gave the company a “hold” rating in a research note on Wednesday, August 8th. ValuEngine downgraded Sanchez Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 10th. KLR Group downgraded Sanchez Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. Finally, Royal Bank of Canada downgraded Sanchez Energy from an “outperform” rating to a “sector perform” rating and set a $7.00 price objective for the company. in a research report on Wednesday, August 8th. Three analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Sanchez Energy has an average rating of “Hold” and a consensus target price of $4.28.

Shares of SN stock traded down $0.24 during mid-day trading on Thursday, reaching $2.42. The stock had a trading volume of 5,696,200 shares, compared to its average volume of 3,480,076. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of -4.55. Sanchez Energy Corp has a one year low of $2.40 and a one year high of $6.19. The company has a market capitalization of $254.61 million, a P/E ratio of -7.56 and a beta of 1.82.

Sanchez Energy (NYSE:SN) last announced its quarterly earnings data on Tuesday, August 7th. The energy producer reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.33). Sanchez Energy had a negative return on equity of 8.74% and a negative net margin of 15.50%. The firm had revenue of $259.31 million during the quarter, compared to the consensus estimate of $252.49 million. sell-side analysts predict that Sanchez Energy Corp will post -0.01 earnings per share for the current fiscal year.

In other news, CAO Kirsten A. Hink sold 30,000 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $4.00, for a total value of $120,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 150,633 shares of the company’s stock, valued at approximately $602,532. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Kirsten A. Hink sold 8,486 shares of the stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $4.41, for a total value of $37,423.26. The disclosure for this sale can be found here. Insiders sold a total of 115,419 shares of company stock valued at $457,294 in the last quarter. Corporate insiders own 11.12% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SN. Geode Capital Management LLC raised its holdings in shares of Sanchez Energy by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 608,621 shares of the energy producer’s stock worth $3,230,000 after buying an additional 19,733 shares in the last quarter. Deutsche Bank AG raised 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 buying an additional 95,949 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Sanchez Energy in the 4th quarter worth approximately $177,000. Wells Fargo & Company MN raised its holdings in shares of Sanchez Energy by 13.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,933,400 shares of the energy producer’s stock worth $6,052,000 after buying an additional 222,516 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Sanchez Energy by 6.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 385,443 shares of the energy producer’s stock worth $1,207,000 after buying an additional 24,309 shares in the last quarter. 54.46% of the stock is owned by institutional investors and hedge funds.

Sanchez Energy Company Profile (NYSE:SN)

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.

Further Reading: Trading Strategy Methods and Types

Receive News & Ratings for Sanchez Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanchez Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply