Sanchez Energy (SN) Bonds Rise 1% During Trading Insider Trade

An issue of Sanchez Energy Corp (NYSE:SN) debt rose 1% as a percentage of its face value during trading on Friday after an insider sold shares in the company. The high-yield issue of debt has a 7.75% coupon and will mature on June 15, 2021. The debt is now trading at $96.03 and was trading at $95.00 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price. Specifically, insider Eduardo Augusto Sanchez sold 250,337 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $4.66, for a total value of $1,166,570.42. Following the completion of the sale, the insider now owns 985,644 shares in the company, valued at approximately $4,593,101.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Antonio R. Sanchez, Jr. sold 72,307 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $3.38, for a total transaction of $244,397.66. Following the completion of the sale, the insider now owns 1,969,498 shares of the company’s stock, valued at approximately $6,656,903.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 677,329 shares of company stock valued at $3,125,339. Company insiders own 14.70% of the company’s stock.

Several equities research analysts have commented on SN shares. Zacks Investment Research lowered shares of Sanchez Energy from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $8.00 price objective on shares of Sanchez Energy in a research note on Tuesday, January 9th. BMO Capital Markets set a $5.00 price objective on shares of Sanchez Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. Northland Securities set a $6.00 price target on shares of Sanchez Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, ValuEngine lowered shares of Sanchez Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.77.

The firm has a market capitalization of $297.36, a P/E ratio of 74.40 and a beta of 1.54. The company has a debt-to-equity ratio of -3.72, a quick ratio of 0.88 and a current ratio of 0.88.

Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC grew its stake in Sanchez Energy by 180.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 21,841 shares of the energy producer’s stock valued at $105,000 after buying an additional 14,044 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Sanchez Energy in the 4th quarter valued at approximately $131,000. IFP Advisors Inc grew its stake in Sanchez Energy by 71.9% in the 4th quarter. IFP Advisors Inc now owns 26,350 shares of the energy producer’s stock valued at $140,000 after buying an additional 11,025 shares in the last quarter. Kalos Management Inc. purchased a new position in Sanchez Energy in the 3rd quarter valued at approximately $138,000. Finally, Voya Investment Management LLC grew its stake in Sanchez Energy by 16.8% in the 2nd quarter. Voya Investment Management LLC now owns 33,214 shares of the energy producer’s stock valued at $238,000 after buying an additional 4,770 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

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Sanchez Energy Company Profile

Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of the United States onshore unconventional oil and natural gas resources. The Company primarily focuses on the Eagle Ford Shale in South Texas. The Company also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.

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