SM Energy Co. (SM) Upgraded by Scotiabank to “Sector Outperform”
Scotiabank upgraded shares of SM Energy Co. (NYSE:SM) from a sector perform rating to a sector outperform rating in a research report sent to investors on Tuesday morning. They currently have $48.00 price target on the energy company’s stock, up from their prior price target of $35.00.
SM has been the subject of several other research reports. Seaport Global Securities upgraded shares of SM Energy from a neutral rating to a buy rating and increased their price target for the company from $30.00 to $53.00 in a research report on Tuesday, August 30th. Williams Capital started coverage on shares of SM Energy in a research report on Monday, August 29th. They set a buy rating and a $57.00 price target for the company. Cantor Fitzgerald restated a hold rating on shares of SM Energy in a research report on Sunday, August 14th. Zacks Investment Research upgraded shares of SM Energy from a hold rating to a buy rating and set a $41.00 price target for the company in a research report on Friday, August 19th. Finally, Piper Jaffray Cos. upgraded shares of SM Energy from a neutral rating to an overweight rating in a research report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.52.
SM Energy (NYSE:SM) opened at 38.41 on Tuesday. SM Energy has a 12 month low of $6.99 and a 12 month high of $42.23. The stock has a 50 day moving average of $36.41 and a 200 day moving average of $29.51. The firm’s market capitalization is $2.63 billion.
SM Energy (NYSE:SM) last posted its quarterly earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. The company earned $341.80 million during the quarter, compared to analyst estimates of $328.18 million. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, equities analysts predict that SM Energy will post ($2.38) earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors 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 (DPR) is presently -0.80%.
In related news, SVP Kenneth J. Knott sold 661 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $40.00, for a total transaction of $26,440.00. Following the completion of the transaction, the senior vice president now directly owns 43,417 shares in the company, valued at approximately $1,736,680. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new position in SM Energy during the second quarter valued at $124,000. BlueMountain Capital Management LLC acquired a new position in SM Energy during the second quarter valued at $230,000. Teacher Retirement System of Texas increased its position in SM Energy by 11.9% in the second quarter. Teacher Retirement System of Texas now owns 9,305 shares of the energy company’s stock valued at $251,000 after buying an additional 993 shares during the last quarter. Amalgamated Bank acquired a new position in SM Energy during the second quarter valued at $277,000. Finally, Tower Research Capital LLC TRC acquired a new position in SM Energy during the second quarter valued at $285,000. Institutional investors own 82.89% of the company’s stock.
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.
Receive News & Stock Ratings for SM Energy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SM Energy Co. and related stocks with our FREE daily email newsletter.