Investors Sell Shares of SM Energy Co. (SM) on Strength After Insider Selling
Traders sold shares of SM Energy Co. (NYSE:SM) on strength during trading on Wednesday after an insider sold shares in the company. $36.78 million flowed into the stock on the tick-up and $74.97 million flowed out of the stock on the tick-down, for a money net flow of $38.19 million out of the stock. Of all companies tracked, SM Energy had the 0th highest net out-flow for the day. SM Energy traded up $1.65 for the day and closed at $40.06Specifically, 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 value of $26,440.00. Following the completion of the sale, the senior vice president now 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 can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.
A number of analysts recently issued reports on the company. Scotiabank upgraded SM Energy from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $35.00 to $48.00 in a report on Tuesday. Zacks Investment Research upgraded SM Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday. Howard Weil upgraded SM Energy from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $35.00 to $48.00 in a report on Tuesday. Seaport Global Securities upgraded SM Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $53.00 in a report on Tuesday, August 30th. Finally, Williams Capital assumed coverage on SM Energy in a report on Monday, August 29th. They issued a “buy” rating and a $57.00 price target for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.52.
The stock has a 50 day moving average of $36.57 and a 200-day moving average of $29.58. The stock’s market cap is $2.74 billion.
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, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. The business earned $341.80 million during the quarter, compared to analysts’ expectations of $328.18 million. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. On average, equities research analysts predict that SM Energy Co. will post ($2.38) earnings per share for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Friday, October 21st will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, October 19th. This represents a dividend yield of 0.29%. SM Energy’s dividend payout ratio (DPR) is currently -0.80%.
Large investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its stake in SM Energy by 208.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,236,903 shares of the energy company’s stock valued at $23,180,000 after buying an additional 836,534 shares during the period. HBK Investments L P raised its stake in shares of SM Energy by 560.3% in the first quarter. HBK Investments L P now owns 876,907 shares of the energy company’s stock valued at $16,433,000 after buying an additional 744,107 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of SM Energy during the second quarter valued at approximately $14,044,000. Prudential Financial Inc. raised its stake in shares of SM Energy by 358.4% in the first quarter. Prudential Financial Inc. now owns 660,030 shares of the energy company’s stock valued at $12,369,000 after buying an additional 516,040 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of SM Energy by 23.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,447,114 shares of the energy company’s stock valued at $66,072,000 after buying an additional 472,335 shares in the last quarter. 82.89% of the stock is owned by institutional investors and hedge funds.
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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