Stock Worth Watching: Could Stone Energy Corporation Recover After Today’s Big Decline?

Stock Worth Watching: Could Stone Energy Corporation Recover After Today's Big Decline?

The stock of Stone Energy Corporation (NYSE:SGY) is a huge mover today! About 413,374 shares traded hands. Stone Energy Corporation (NYSE:SGY) has declined 40.76% since April 14, 2016 and is downtrending. It has underperformed by 45.45% the S&P500.
The move comes after 6 months negative chart setup for the $27.66 million company. It was reported on Nov, 16 by Barchart.com. We have $4.27 PT which if reached, will make NYSE:SGY worth $3.87M less.

Stone Energy Corporation (NYSE:SGY) Ratings Coverage

Out of 11 analysts covering Stone Energy Corporation (NYSE:SGY), 1 rate it a “Buy”, 5 “Sell”, while 5 “Hold”. This means 9% are positive. Stone Energy Corporation has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Underweight” rating on Monday, October 17 by Barclays Capital. The firm has “Underweight” rating given on Friday, March 11 by Simmons & Co. On Monday, April 18 the stock rating was downgraded by Johnson Rice to “Hold”. The stock of Stone Energy Corporation (NYSE:SGY) earned “In-Line” rating by Imperial Capital on Wednesday, February 3. Piper Jaffray downgraded the stock to “Underweight” rating in Friday, March 11 report. The firm earned “Neutral” rating on Friday, February 12 by Ladenburg Thalmann. Imperial Capital downgraded the shares of SGY in a report on Tuesday, April 19 to “Underperform” rating. The rating was maintained by Howard Weil on Tuesday, December 22 with “Sector Perform”. CapitalOne downgraded Stone Energy Corporation (NYSE:SGY) on Tuesday, January 19 to “Underweight” rating. Imperial Capital maintained Stone Energy Corporation (NYSE:SGY) rating on Wednesday, February 24. Imperial Capital has “In-Line” rating and $1.25 price target.

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.
Adirondack Rech & Mngmt owns 716,000 shares or 0.12% of their US portfolio. Great West Life Assurance Company Can holds 3,766 shares or 0% of its portfolio. Putnam Invests holds 0.02% of its portfolio in Stone Energy Corporation (NYSE:SGY) for 22.91 million shares. Da Davidson & holds 0% or 3,000 shares in its portfolio. York Management Global Advisors Lc reported 1,000 shares or 0.01% of all its holdings.

Another recent and important Stone Energy Corporation (NYSE:SGY) news was published by Prnewswire.com which published an article titled: “Stone Energy Corporation Announces Third Quarter 2016 Results” on November 07, 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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