A statement released earlier today by Barclays about Stone Energy (NYSE:SGY) raises the target price to $3.00
- Updated: October 17, 2016
Just yesterday Stone Energy (NYSE:SGY) traded -13.31% lower at $10.67. SGY’s 50-day average is $11.44 and its two hundred day average is $9.92. With the last stock price close up -6.75% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Volume of trade was down over the average, with 721,114 shares of SGY changing hands under the typical 1,084,130
Stone Energy (NYSE:SGY) had its stock price target increased to $3.00 by Barclays in a report released 10/17/2016. The upped price target implies a potential downside of -0.72% based on the company's previous stock price.
Previously on 06/30/2016, Scotia Howard Weil released a statement about Stone Energy (NYSE:SGY) increased the target price from $2.00 to $17.00. At the time, this indicated a possible upside of 0.56%.
Stone Energy has a 52 week low of $2.70 and a 52 week high of $78.00 The company’s market cap is currently $0.
In addition to Barclays reporting its target price, a total of 9 brokers have issued a report on the stock. The consensus target price is $10.36 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 8 brokers rating the stock a hold, 2 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.
General Information About Stone Energy (NYSE:SGY)
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. Its estimated proved oil and natural gas reserves are over 60 million barrels of oil equivalents (MMBoe) or 340 billion cubic feet equivalent (Bcfe). Over 95 MMBoe or 570 Bcfe of its estimated proved reserves are revised downward. It has made investments in seismic data and leasehold interests, and has geological, geophysical, engineering and operational operations in deep water arena to evaluate potential exploration, development and acquisition opportunities. It holds over two deep water platforms, producing reserves and various leases.
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