UPDATE: C.K. Cooper & Company Initiates Coverage on Sanchez Energy Corporation with Buy Rating, $25 PT
In a report published Friday, C.K. Cooper & Company initiated coverage on Sanchez Energy Corporation (NYSE: SN) with a Buy rating and $25.00 price target.
C.K. Cooper noted, “We are initiating coverage on Sanchez Energy Corporation (NYSE: SN) with a BUY rating and a price target of $25.00. Sanchez is a pure play, small-cap E&P with an operational focus in the Eagle Ford Shale in South Texas, where the Company maintains ~95,000 net acres across three main project areas. To supplement its core focus in the Eagle Ford, Sanchez maintains additional assets in the Haynesville Shale in northern Louisiana and the Heath, Bakken, and Three Forks Shale in northern Montana. The Company is in the early stages of developing its properties and is focused on an oil weighted, Eagle Ford focused development program. Since going public in December 2011, Sanchez has been concentrating on delineating its acreage and accelerating its development plans.”
Sanchez Energy Corporation closed on Thursday at $19.10.
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