An issue of Sanchez Energy Corp (NYSE:SN) debt rose 0.8% against its face value during trading on Friday after an insider sold shares in the company. The debt issue has a 6.125% coupon and is set to mature on January 15, 2023. The debt is now trading at $85.25 and was trading at $84.50 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price. Specifically, insider Eduardo Augusto Sanchez sold 250,337 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $4.66, for a total value of $1,166,570.42. Following the completion of the transaction, the insider now directly owns 985,644 shares in the company, valued at approximately $4,593,101.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Howard J. Sr Thill, Sr. sold 16,499 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $4.27, for a total value of $70,450.73. The disclosure for this sale can be found here. Corporate insiders own 14.70% of the company’s stock.
SN has been the subject of several research analyst reports. ValuEngine lowered Sanchez Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Sanchez Energy from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report on Thursday, October 19th. JPMorgan Chase & Co. initiated coverage on Sanchez Energy in a research report on Friday, September 15th. They issued a “neutral” rating for the company. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $6.00 price target (down previously from $14.00) on shares of Sanchez Energy in a research report on Monday, September 18th. Finally, BMO Capital Markets set a $5.00 price target on Sanchez Energy and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.46.
The firm has a market cap of $446.73, a price-to-earnings ratio of 18.96 and a beta of 1.72. The company has a debt-to-equity ratio of -3.72, a quick ratio of 0.88 and a current ratio of 0.88.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SN. Vanguard Group Inc. raised its stake in Sanchez Energy by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,127,552 shares of the energy producer’s stock valued at $87,076,000 after acquiring an additional 569,664 shares during the period. State Street Corp raised its stake in Sanchez Energy by 50.0% in the 2nd quarter. State Street Corp now owns 7,343,314 shares of the energy producer’s stock valued at $52,727,000 after acquiring an additional 2,446,795 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in Sanchez Energy in the 2nd quarter valued at $32,388,000. Schroder Investment Management Group raised its stake in Sanchez Energy by 44.8% in the 2nd quarter. Schroder Investment Management Group now owns 1,894,000 shares of the energy producer’s stock valued at $13,504,000 after acquiring an additional 586,040 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Sanchez Energy by 44.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,789,224 shares of the energy producer’s stock valued at $8,804,000 after acquiring an additional 554,240 shares during the period. 59.05% of the stock is owned by institutional investors.
Sanchez Energy Company Profile
Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of the United States onshore unconventional oil and natural gas resources. The Company primarily focuses on the Eagle Ford Shale in South Texas. The Company also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.