Stone Energy Corporation
Stone Energy Corporation (NYSE:SGY) shares lost almost one-third of their value today after the oil and gas company said it’s considering strategic alternatives and has borrowed $385 million from its credit facility.
In reaction, David Kistler, managing director at energy-focused investment bank Simmons & Co, downgraded shares of Stone Energy from Neutral to Underweight with a price target of $2, which represents a slight downside potential from current levels.
Kistler noted, “We are reducing our rating on SGY shares from Neutral to Underweight as the visibility and financial future for the company has been reduced. More specifically, SGY has almost fully drawn its borrowing base and retained a financial advisor to analyze and consider financial and strategic alternatives in anticipation that its borrowing base re-determination would result in both a reduced go-forward facility and liquidity.”
Out of the 6 analysts polled by TipRanks, 5 rate Stone Energy stock a Hold, while 1 rates the stock a Buy. With a return potential of 53%, the stock’s consensus target price stands at $3.13.
TrovaGene Inc (NASDAQ:TROV) shares dropped nearly 11% today after the company reported fourth-quarter earnings that failed to impress investors. However, Maxim analyst Jason Kolbert remains positive, reiterating a Buy rating on the stock with a price target of $12.
Kolbert said, “Trovagene continues to put “building blocks in place” for its infrastructure and to build revenues as the paradigm shifts towards leveraging diagnostics and monitoring of cancer mutations as part of the treatment regimen. With $67M in cash, we believe the company is ideally positioned to build the market over the next few years. Over time, we expect to see traction build up and revenues increase.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of -16% and a 28.5% success rate. Kolbert has a 0.5% average return when recommending TROV, and is ranked #3697 out of 3767 analysts.
Out of the 6 analysts polled by TipRanks, 5 rate TrovaGene Inc stock a Buy, while 1 rates the stock a Hold. With a return potential of 96.3%, the stock’s consensus target price stands at $10.60.