Stone Energy Corporation Common (NYSE:SGY):
STONE ENERGY CORPORATION Announces Entry into Comprehensive Restructuring Support Agreement With Senior Noteholders; Agrees to Sell Appalachia Assets to an affiliate of Tug Hill, Inc..
The company is now down by -4.09 percent from yesterday’s close.
The stock is trading at $4.22 which is just a bit below $10.11, the 50 day moving average and which is marginally lower than the 200 day moving average of $9.89. The 50 day moving average was down by -58.25% whereas the 200 day average was down by -57.33%.
Several analysts have provided guidance on SGY. October 17 investment analysts at Barclays held the price objective at $3.00 but downgraded the stock to Underweight from Equalweight. On October 17 the company was downgraded from “Equalweight” to “Underweight” with a current price target of $3.00 in a report issued by Barclays.
June 15 investment analysts at Barclays left the company rating at “Equalweight” but raised the price expectation to $3.00 from $0.50. On May 13 Barclays maintained a company rating of “Equalweight” but lowered the price target from $1.00 to $0.50.
Equity analyst Imperial Capital both downgraded the stock and lowered the price target on April 19 cutting the price target from $1.25 to $0.50 and altering the rating from “In-line” to “Underperform”. On April 19 the stock rating was downgraded to “Underperform” from “In-line” and a price target of $0.50 was set by Imperial Capital.