Sanchez Energy (SN) Debt Trading 2.8% Lower

An issue of Sanchez Energy Corp (NYSE:SN) debt fell 2.8% against its face value during trading on Tuesday. The debt issue has a 7.25% coupon and will mature on February 15, 2023. The debt is now trading at $79.75 and was trading at $86.00 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several brokerages recently issued reports on SN. Zacks Investment Research lowered Sanchez Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, December 1st. Royal Bank of Canada reiterated a “hold” rating and set a $2.50 price objective on shares of Sanchez Energy in a report on Tuesday, November 6th. SunTrust Banks set a $1.00 price objective on Sanchez Energy and gave the stock a “hold” rating in a report on Tuesday, November 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $0.90 price objective on shares of Sanchez Energy in a report on Monday, November 26th. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $2.34.

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Sanchez Energy stock traded up $0.02 during mid-day trading on Tuesday, hitting $0.28. 779,588 shares of the company’s stock were exchanged, compared to its average volume of 2,081,394. The company has a market capitalization of $24.38 million, a price-to-earnings ratio of -0.87 and a beta of 2.46. Sanchez Energy Corp has a 1-year low of $0.22 and a 1-year high of $5.13.

A number of institutional investors have recently bought and sold shares of SN. MFN Partners Management LP acquired a new stake in shares of Sanchez Energy in the fourth quarter valued at about $419,000. Benefit Street Partners LLC acquired a new stake in shares of Sanchez Energy in the fourth quarter valued at about $148,000. Two Sigma Investments LP acquired a new stake in shares of Sanchez Energy in the fourth quarter valued at about $104,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Sanchez Energy by 1,725.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 358,277 shares of the energy producer’s stock valued at $97,000 after purchasing an additional 338,655 shares during the last quarter. Finally, Vanguard Group Inc grew its position in shares of Sanchez Energy by 8.9% in the third quarter. Vanguard Group Inc now owns 3,939,138 shares of the energy producer’s stock valued at $9,060,000 after purchasing an additional 320,306 shares during the last quarter. 39.90% of the stock is currently owned by hedge funds and other institutional investors.

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Sanchez Energy Company Profile (NYSE:SN)

Sanchez Energy Corporation, an independent exploration and production company, focuses on the acquisition and development of U.S. onshore unconventional oil and natural gas resources. It engages in the horizontal development of resources from the Eagle Ford Shale in South Texas. It also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.

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