SM Energy Co. (SM) SVP Kenneth J. Knott Sells 661 Shares
SM Energy Co. (NYSE:SM) SVP Kenneth J. Knott sold 661 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $40.00, for a total value of $26,440.00. Following the transaction, the senior vice president now directly owns 43,417 shares in the company, valued at $1,736,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of SM Energy Co. (NYSE:SM) opened at 38.41 on Wednesday. The company’s market cap is $2.63 billion. SM Energy Co. has a 52-week low of $6.99 and a 52-week high of $42.23. The firm has a 50-day moving average of $36.41 and a 200-day moving average of $29.51.
SM Energy (NYSE:SM) last released its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.27. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The firm had revenue of $341.80 million for the quarter, compared to the consensus estimate of $328.18 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was down 33.8% on a year-over-year basis. Equities research analysts forecast that SM Energy Co. will post ($2.38) earnings per share for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Friday, October 21st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a dividend yield of 0.29%. SM Energy’s dividend payout ratio is presently -0.80%.
Several institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in SM Energy by 0.5% in the second quarter. Macquarie Group Ltd. now owns 1,580,149 shares of the energy company’s stock worth $42,664,000 after buying an additional 7,598 shares in the last quarter. Mason Street Advisors LLC acquired a new position in SM Energy during the second quarter worth about $838,000. Amalgamated Bank acquired a new position in SM Energy during the second quarter worth about $277,000. Legal & General Group Plc increased its position in SM Energy by 47.3% in the second quarter. Legal & General Group Plc now owns 92,181 shares of the energy company’s stock worth $2,487,000 after buying an additional 29,613 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in SM Energy by 3.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 63,925 shares of the energy company’s stock worth $1,726,000 after buying an additional 2,243 shares in the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.
A number of research analysts have recently issued reports on SM shares. Citigroup Inc. raised SM Energy to a “neutral” rating and raised their price objective for the company from $16.00 to $36.00 in a research note on Monday, August 22nd. Simmons raised SM Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $50.00 in a research note on Monday, August 15th. Zacks Investment Research cut SM Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Cantor Fitzgerald reissued a “hold” rating and issued a $24.00 target price on shares of SM Energy in a research note on Wednesday, July 6th. Finally, Williams Capital initiated coverage on SM Energy in a research note on Monday, August 29th. They issued a “buy” rating and a $57.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.52.
SM Energy Company Profile
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States.
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