Stone Energy (SGY) Stock Rating Reaffirmed by CIBC

Stone Energy (NYSE:SGY)‘s stock had its “hold” rating reiterated by research analysts at CIBC in a research note issued on Thursday. They presently have a $2.50 price objective on the oil and natural gas company’s stock. CIBC’s price objective would suggest a potential downside of 92.96% from the stock’s previous close.

NYSE SGY opened at $35.49 on Thursday. Stone Energy has a 52 week low of $16.76 and a 52 week high of $40.16.

An institutional investor recently bought a new position in Stone Energy stock. Millennium Management LLC bought a new position in shares of Stone Energy Co. (NYSE:SGY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,104 shares of the oil and natural gas company’s stock, valued at approximately $672,000. Millennium Management LLC owned approximately 0.09% of Stone Energy at the end of the most recent quarter. Institutional investors own 98.94% of the company’s stock.

Stone Energy Company Profile

Stone Energy Corporation, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and operation of oil and gas properties in the Gulf of Mexico. As of December 31, 2017, it had an estimated proved oil and natural gas reserves of approximately 32.5 million barrels of oil equivalent.

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