In a report issued on August 10, Dan McSpirit from BMO Capital reiterated a Hold rating on Sanchez Energy Corporation (NYSE: SN), with a price target of $4. The company’s shares closed on Friday at $2.90, close to its 52-week low of $2.78.
According to TipRanks.com, McSpirit is a 3-star analyst with an average return of 3.6% and a 51.1% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Wildhorse Resource Development Corp, and HighPoint Resources Corporation.
The word on The Street in general, suggests a Hold analyst consensus rating for Sanchez Energy Corporation with a $3.90 average price target, implying a 34.5% upside from current levels. In a report issued on August 8, RBC Capital also downgraded the stock to Hold.
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Based on Sanchez Energy Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $34.99 million. In comparison, last year the company had a net profit of $44.42 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.
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Sanchez Energy Corp. is an independent exploration and production company, which engages in the acquisition and development of unconventional oil and natural gas resources in the onshore U.S. Gulf Coast. Its properties include Eagle Ford Shale and Tuscaloosa Marine Shale.
