Stone Energy Corporation Company Profile (NYSE:SGY)

Stone Energy Corporation trades on the New York Stock Exchange (NYSE) under the ticker symbol "SGY."

Stone Energy Corporation (NYSE:SGY) issued its quarterly earnings data on Monday, August, 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.42. The firm earned $76.72 million during the quarter. Stone Energy Corporation had a net margin of 41.74% and a negative return on equity of 215.45%. View Stone Energy Corporation's Earnings History.

Stone Energy Corporation is scheduled to release their next quarterly earnings announcement on Monday, November, 6th 2017. View Earnings Estimates for Stone Energy Corporation.

3 equities research analysts have issued 1 year target prices for Stone Energy Corporation's shares. Their predictions range from $3.00 to $10.00. On average, they expect Stone Energy Corporation's share price to reach $6.50 in the next year. View Analyst Ratings for Stone Energy Corporation.

Here are some recent quotes from research analysts about Stone Energy Corporation stock:

• 1. According to Zacks Investment Research, "Stone Energy underperformed the industry year to date. Lower oil and gas prices affected the results.  Moreover, the company is facing pressure on top line and has seen its total revenues decline at a CAGR of 31.2% over the past three years. Stone Energy had filed for relief under Chapter 11 of the Bankruptcy Code. The company's operations, business plans and its continuation as an entity will be subject to uncertainties related with bankruptcy. The company’s results are directly exposed to oil and gas prices, which are inherently volatile and subject to complex market forces. Given these headwinds, we see Stone Energy as a risky bet that ordinary investors should exit." (9/20/2017)
• 2. National Securities analysts commented, "What Happened:
  • Stone emerged from bankruptcy on February 28, removing $1.2 billion in liabilities from its balance sheet.
  • Former holders of the 2017 and 2022 notes, will receive 19 million shares, representing 95% of the newly organized common shares.
  • Stone will maintain its listing on the NYSE, and will trade under the same SGY ticker symbol.
  • In 4Q16, SGY entered into a purchase and sale agreement with TH Exploration, to dispose of its Appalachian assets in exchange for $360 million in cash. We expect the sale to close on Feb 28, 2017, at which point SGY will no longer have assets or operations in the region.
  • Stone produced 43.7 thousand barrels of oil equivalent per day (Mboe/d), near the upper band of company guidance. Additionally the company saw a 7% reduction to its base of proved reserves
  Our Take:
  • In all candor, Stone’s emergence from bankruptcy significantly improves its balance sheet, putting upward pressure on share prices, and providing investors with an admittedly compelling value prospect at current levels. Indeed, given the downward revision in reserves, coupled with expectations for lower production, our knee jerk reaction would be to remain neutral on company shares. Still, the reduction of over $1 billion in debt cannot be ignored, and solves what has been Stone’s biggest pain point in recent years.
  • In addition to positively impacting the balance sheet, the reduction in debt levels will also reduce Stone’s interest expense burden. By our own model, we project a decline in quarterly interest to $5 million, from $14.6 in 4Q16.
  • The sale of its Appalachian assets will likely have a sharp negative impact on production volumes. We note that in 4Q16, production from Stone’s Appalachian assets was approximately 128 Million cubic feet per day (Mmcfe/d), or approximately 21 Mboe/d when converted to oil equivalents. To that end, we expect both Stone’s production volumes and production mix to change, moving forward. Specifically, our 2017 model estimates 24 Mboe/d in the second quarter down 45% from the 43.7 Mboe/d Stone produced in 4Q16. Moreover, where we have traditionally viewed Stone as having a balanced production mix between oil natural gas, and natural gas liquids (NGL’s), we now view the company as having a significantly larger oil blend, modeling 65% moving forward.
  • We actually contend that this is a beneficial time for Stone in regards to a shift in production mix, as oil prices have begun to strengthen within the last quarter. Additionally, investors should note that Stone produces oil that receives Light Louisiana Sweet (LLS) pricing, which traditionally trades at a premium to benchmark WTI.
  • The sale of its Appalachian assets will impact production but is likely to have a smaller impact on Stone’s reserve base. While the sale of assets generally leads to declines in proved reserves, we note that Stone already received a negative revision in 2015 on the aforementioned asset. To that end, we view the decline from 57 Mmboe to 53 Mmboe as relatively mild.
  • At this time, we are raising our price target on Stone to $10 (from 6), while upgrading its shares to BUY. Given the aforementioned developments we contend that Stone has value at current levels. We expect that Stone’s share count will grow in the near future, and highlight that we are accounting for 20 million shares in 1Q17, versus 5.6 in 4Q16. We continue to evaluate Stone on the basis of reserves, production, and discretionary cash flow, while making adjustments for net debt. Our $10 price target equates to .76x our 2017 discretionary cash flow per share (DCF) estimate of $13.10
  " (2/28/2017)

Stone Energy Corporation saw a decline in short interest in the month of August. As of August 31st, there was short interest totalling 983,295 shares, a decline of 38.2% from the August 15th total of 1,592,096 shares. Based on an average daily trading volume, of 195,060 shares, the days-to-cover ratio is currently 5.0 days. Approximately 5.0% of the shares of the stock are sold short.

Some companies that are related to Stone Energy Corporation include Gran Tierra Energy (GTE), Baytex Energy Corp (BTE), Bonavista Energy Corp (BNP), Trilogy Energy Corp (TET), Calfrac Well Services Ltd (CFW), Crew Energy (CR), Pengrowth Energy Corp (PGF), Bonanza Creek Energy (BCEI), Gluskin Sheff + Associates (GS), Bonterra Energy Corp (BNE), Cardinal Energy Ltd (CJ), Athabasca Oil Corp (ATH), BlackPearl Resources (PXX), Argonaut Gold (AR), goeasy Ltd (GSY), Mainstreet Equity Corp. (MEQ), SilverBow Resources (SBOW) and Delphi Energy Corp. (DEE).

Stone Energy Corporation's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include Franklin Resources Inc. (36.05%), Mackay Shields LLC (19.60%), State Street Corp (1.54%), Royce & Associates LP (1.07%), Northern Trust Corp (0.99%) and Ameriprise Financial Inc. (0.97%). Company insiders that own Stone Energy Corporation stock include John J Leonard, Kay G Priestly, Kenneth H Beer and Robert S Murley. View Institutional Ownership Trends for Stone Energy Corporation.

Stone Energy Corporation's stock was sold by a variety of institutional investors in the last quarter, including Mackay Shields LLC and Ameriprise Financial Inc.. Company insiders that have sold Stone Energy Corporation stock in the last year include John J Leonard, Kay G Priestly, Kenneth H Beer and Robert S Murley. View Insider Buying and Selling for Stone Energy Corporation.

Stone Energy Corporation's stock was bought by a variety of institutional investors in the last quarter, including State Street Corp, Royce & Associates LP, Northern Trust Corp, Schwab Charles Investment Management Inc., TIAA CREF Investment Management LLC, Bank of New York Mellon Corp, QS Investors LLC and Dynamic Technology Lab Private Ltd. View Insider Buying and Selling for Stone Energy Corporation.

Shares of Stone Energy Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Stone Energy Corporation stock can currently be purchased for approximately $29.96.