Bear of the Day: Stone Energy
by Zacks Equity ResearchJanuary 18, 2013 | Comments : 0 Recommended this article: (0)
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The spiraling lease operating expenses added to Stone Energy's woes due to high seasonal maintenance costs and the effects of Hurricane Isaac. Again, its results are heavily dependent on growth visibility at its onshore properties as well as the outcome of various deepwater exploration prospects.
Given these headwinds, we expect the shares of Stone Energy to be under pressure in the near future. Our $19 price objective reflects a 2013 P/E multiple of 9.2x.
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