Price Action Report: Could Stone Energy Corporation Crash Even More? The Stock Had Another Big Decline Today

Price Action Report: Could Stone Energy Corporation Crash Even More? The Stock Had Another Big Decline Today

The stock of Stone Energy Corporation (NYSE:SGY) is a huge mover today! About 170,911 shares traded hands. Stone Energy Corporation (NYSE:SGY) has declined 56.00% since March 8, 2016 and is downtrending. It has underperformed by 65.32% the S&P500.
The move comes after 5 months negative chart setup for the $66.70M company. It was reported on Oct, 11 by Barchart.com. We have $10.12 PT which if reached, will make NYSE:SGY worth $6.67M less.

Analysts await Stone Energy Corporation (NYSE:SGY) to report earnings on November, 7. They expect $-4.99 earnings per share, down 232.67% or $3.49 from last year’s $-1.5 per share. After $-7.45 actual earnings per share reported by Stone Energy Corporation for the previous quarter, Wall Street now forecasts -33.02% EPS growth.

Stone Energy Corporation (NYSE:SGY) Ratings Coverage

Out of 11 analysts covering Stone Energy Corporation (NYSE:SGY), 1 rate it a “Buy”, 4 “Sell”, while 6 “Hold”. This means 9% are positive. Stone Energy Corporation has been the topic of 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Sector Perform” rating on Friday, August 14 by Howard Weil. The rating was downgraded by Johnson Rice on Monday, April 18 to “Hold”. The stock of Stone Energy Corporation (NYSE:SGY) earned “Outperform” rating by Scotia Capital on Sunday, August 16. The firm has “Outperform” rating given on Wednesday, January 6 by Imperial Capital. The firm earned “Mkt Perform” rating on Wednesday, January 6 by FBR Capital. As per Tuesday, December 22, the company rating was maintained by Howard Weil. The rating was downgraded by CapitalOne to “Underweight” on Tuesday, January 19. On Monday, August 31 the stock rating was maintained by KLR Group with “Buy”. As per Friday, March 11, the company rating was downgraded by Piper Jaffray. The firm has “Neutral” rating by Ladenburg Thalmann given on Friday, February 12.

According to Zacks Investment Research, “Stone Energy is an independent oil and gas company headquartered in Lafayette, Louisiana, and is engaged in the acquisition, exploitation and operation of oil and gas properties located in the Gulf Coast Basin.”

Insitutional Activity: The institutional sentiment decreased to 0.03 in Q2 2016. Its down 0.81, from 0.84 in 2016Q1. The ratio worsened, as 120 funds sold all Stone Energy Corporation shares owned while 0 reduced positions. 4 funds bought stakes while 0 increased positions. They now own 23.63 million shares or 37.56% less from 37.85 million shares in 2016Q1.
Putnam Lc has invested 0.02% of its portfolio in Stone Energy Corporation (NYSE:SGY). York Management Limited Co last reported 0.01% of its portfolio in the stock. Moreover, Adirondack And has 0.12% invested in Stone Energy Corporation (NYSE:SGY) for 716,000 shares. Great West Life Assurance Can holds 3,766 shares or 0% of its portfolio. Da Davidson & Co accumulated 3,000 shares or 0% of the stock.

More notable recent Stone Energy Corporation (NYSE:SGY) news were published by: Prnewswire.com which released: “Stone Energy Corporation Announces Second Quarter 2016 Results” on August 02, 2016, also Fool.com with their article: “Better Late Than Never: Stone Energy Corporation Surges After Making an …” published on June 14, 2016, Prnewswire.com published: “Stone Energy Corporation Announces 1-for-10 Reverse Stock Split” on June 01, 2016. More interesting news about Stone Energy Corporation (NYSE:SGY) were released by: Investorplace.com and their article: “Stone Energy Corporation: SGY Stock Has Gotten TOO Hot” published on July 12, 2016 as well as Wsj.com‘s news article titled: “Stone Energy Says Bankruptcy Filing a Possibility” with publication date: May 17, 2016.

SGY Company Profile

Stone Energy Corporation, incorporated on March 15, 1993, is an independent oil and natural gas company. The Firm is engaged in the acquisition, exploration, exploitation, development and operation of gas and oil properties. The Firm operates in the Gulf of Mexico (GOM) basin. The Firm has leveraged its activities 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. The Company’s estimated proved oil and natural gas reserves are approximately 60 million barrels of oil equivalents (MMBoe) or 340 billion cubic feet equivalent (Bcfe). Approximately 95 MMBoe or 570 Bcfe of its estimated proved reserves are revised downward. The Company’s subsidiaries are Stone Energy Offshore, L.L.C. (Stone Offshore), Stone Energy Holding, L.L.C., Stone Energy Canada, U.L.C, SEO A LLC and SEO B LLC.

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