GeoSphere Capital Management purchased a new stake in shares of Stone Energy Corporation (NYSE:SGY) during the first quarter, Holdings Channel reports. The fund purchased 192,405 shares of the oil and natural gas company’s stock, valued at approximately $4,202,000. Stone Energy Corporation makes up about 3.7% of GeoSphere Capital Management’s investment portfolio, making the stock its 4th largest position. GeoSphere Capital Management owned approximately 0.19% of Stone Energy Corporation at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SGY. SG Americas Securities LLC purchased a new position in Stone Energy Corporation during the first quarter valued at $123,000. Sei Investments Co. purchased a new position in Stone Energy Corporation during the first quarter valued at $253,000. Snow Capital Management LP purchased a new position in Stone Energy Corporation during the first quarter valued at $798,000. Ameriprise Financial Inc. purchased a new position in Stone Energy Corporation during the first quarter valued at $4,261,000. Finally, Mackay Shields LLC purchased a new position in Stone Energy Corporation during the first quarter valued at $86,239,000. Institutional investors and hedge funds own 87.26% of the company’s stock.
Shares of Stone Energy Corporation (NYSE SGY) traded up 3.61% during trading on Friday, hitting $23.52. The stock had a trading volume of 1,065,545 shares. The firm’s market cap is $470.38 million. Stone Energy Corporation has a 52-week low of $16.50 and a 52-week high of $32.39. The firm’s 50-day moving average is $22.05 and its 200 day moving average is $30.06.
SGY has been the subject of several research analyst reports. Zacks Investment Research upgraded Stone Energy Corporation from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Wednesday, April 12th. National Securities upgraded Stone Energy Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $6.00 to $10.00 in a report on Tuesday, February 28th. Capital One Financial Corporation upgraded Stone Energy Corporation from an “underweight” rating to an “equal weight” rating in a report on Wednesday, March 1st. Finally, ValuEngine upgraded Stone Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $13.50.
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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