In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Sanchez Energy Corp (NYSE:SN) reported that Sanchez Antonio R Jr has picked up 6,194,036 of common stock as of 2017-04-27.
The acquisition brings the aggregate amount owned by Sanchez Antonio R Jr to a total of 6,194,036 representing less than 7.9% stake in the company.
For those not familiar with the company, 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. As of December 31, 2016, it had assembled approximately 278,000 net leasehold acres in the Eagle Ford Shale. As of December 31, 2016, it had 473 net wells in the Eagle Ford Shale area. In its Catarina area, the Company had approximately 106,000 net acres in Dimmit, LaSalle and Webb Counties, Texas, at December 31, 2016. In its Maverick area, it had approximately 100,000 net acres in Dimmit, Frio, LaSalle, Zavala and McMullen Counties, Texas, at December 31, 2016. In its Javelina area, it had approximately 39,500 net acres in LaSalle and Webb Counties, Texas, at December 31, 2016.
A glance at Sanchez Energy Corp (NYSE:SN)’s key stats reveals a current market capitalization of 611.49 Million based on 81.90 Million shares outstanding and a price at last close of $7.71 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-11-25, Carney picked up 500 at a purchase price of $4.95. This brings their total holding to 500 as of the date of the filing.
On the sell side, the most recent transaction saw Sanchez unload 35,170 shares at a sale price of $8.31. This brings their total holding to 251,485.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Sanchez Energy Corp (NYSE:SN) as things move forward to see if its progress aligns with these transactions.
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