We recommend an Outperform rating for Stone Energy (SGY) shares following strong third-quarter 2009 results. Stone has moved away from liquidity management in the first half of 2009 to a disciplined organic growth mode.

The Gulf of Mexico (GoM) shelf helped the company deliver a strong quarter, underpinned by both production growth and decreased cost. Last year’s acquisition of Bois d’Arc Energy, a pure-play GoM player, has increased Stone’s footprint in this region.

Our favorable view of the stock reflects the company’s improving balance sheet, positive production growth profile, decreasing cost and improved prospects for capital discipline.

Zacks Investment Research

1. (SGY) Stone Energy Corporation – Consensus Estimates JumpStone Energy Corporation (SGY) is cheap, trading with a forward P/E of just 7.23. The...
2. (SGY) Stone Energy Corporation Outdoes EstimatesStone Energy Corporation (SGY) reported third-quarter 2009 earnings of $1.06 per share, beating the Zacks...
3. (DVN) Devon Energy Corporation Beats EstimatesDevon Energy Corporation (DVN) posted better-than-expected results for the third quarter of 2009 due to...
4. (CHK) Chesapeake Energy Corporation Bumps Up OutlookChesapeake Energy Corporation (CHK) has modestly raised its 2009 and 2010 production outlook and introduced...
5. (SGY) Stone Energy Corp. – earnings of 65 cents per share vs. the consensus of 10 centsStone Energy Corp. (SGY) is posting huge gains as estimates continue to surge. Company Description...
6. (FCSX) – FC Stone Group – over the last four quarters, having beaten analyst estimates by an average of 36.22%FC Stone Group, Inc. (FCSX) is fresh off the heels of a very solid second...

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