SM Energy Co. (SM) Upgraded to “Sector Outperform” at Howard Weil
Howard Weil upgraded shares of SM Energy Co. (NYSE:SM) from a sector perform rating to a sector outperform rating in a report issued on Tuesday morning. The brokerage currently has $48.00 price target on the energy company’s stock, up from their prior price target of $35.00.
A number of other equities research analysts have also commented on SM. Cantor Fitzgerald reissued a hold rating and set a $24.00 price objective on shares of SM Energy in a report on Wednesday, August 3rd. Deutsche Bank AG increased their price objective on shares of SM Energy from $31.00 to $35.00 and gave the stock a hold rating in a report on Tuesday, June 14th. Mitsubishi UFJ Financial Group raised shares of SM Energy from an underweight rating to a neutral rating and set a $36.00 target price on the stock in a research note on Tuesday, August 23rd. Barclays PLC raised their target price on shares of SM Energy from $32.00 to $40.00 and gave the company an overweight rating in a research note on Thursday, August 4th. Finally, Zacks Investment Research raised shares of SM Energy from a hold rating to a buy rating and set a $27.00 target price on the stock in a research note on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $33.52.
Shares of SM Energy (NYSE:SM) traded up 2.45% during mid-day trading on Tuesday, hitting $39.35. 767,390 shares of the stock were exchanged. The firm’s market cap is $2.69 billion. The company’s 50-day moving average is $36.41 and its 200-day moving average is $29.51. SM Energy has a 1-year low of $6.99 and a 1-year high of $42.23.
SM Energy (NYSE:SM) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $328.18 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was down 33.8% on a year-over-year basis. Equities research analysts anticipate 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. Shareholders of record on Friday, October 21st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a yield of 0.29%. SM Energy’s dividend payout ratio (DPR) is -0.80%.
In other SM Energy news, SVP Kenneth J. Knott sold 661 shares of SM Energy stock in a transaction on Thursday, September 29th. The shares were 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 of the company’s stock, valued at $1,736,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SM. Macquarie Group Ltd. boosted 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 during the period. Mason Street Advisors LLC acquired a new stake in shares of SM Energy during the second quarter worth about $838,000. Amalgamated Bank acquired a new stake in shares of SM Energy during the second quarter worth about $277,000. Legal & General Group Plc boosted its stake in shares of 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 during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of 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 during the last quarter. 82.89% of the stock is owned by hedge funds and other institutional investors.
About SM Energy
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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