Analysts Set SM Energy Co. (SM) Price Target at $36.32
SM Energy Co. (NYSE:SM) has been given a consensus recommendation of “Hold” by the twenty-seven brokerages that are presently covering the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $36.32.
A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $24.00 price objective on shares of SM Energy in a report on Wednesday, August 3rd. Scotiabank upgraded shares of SM Energy from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $35.00 to $48.00 in a report on Tuesday, October 4th. Mitsubishi UFJ Financial Group upgraded shares of SM Energy from an “underweight” rating to a “neutral” rating and set a $36.00 price objective for the company in a report 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 report 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 report on Tuesday, July 12th.
SM Energy (NYSE:SM) opened at 40.14 on Tuesday. The company’s market cap is $2.75 billion. The company’s 50-day moving average is $37.20 and its 200-day moving average is $30.34. SM Energy has a 12 month low of $6.99 and a 12 month high of $42.33.
SM Energy (NYSE:SM) last announced its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share for the quarter, beating 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 company earned $341.80 million during the quarter, compared to analyst estimates of $328.18 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities research analysts expect that SM Energy will post ($2.38) EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be paid a $0.05 dividend. This represents a dividend yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s dividend payout ratio is currently -0.80%.
In related news, SVP Kenneth J. Knott sold 661 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $40.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in SM Energy by 14.0% in the first quarter. State Street Corp now owns 3,778,006 shares of the energy company’s stock worth $70,795,000 after buying an additional 464,526 shares in the last quarter. HBK Investments L P boosted its position in SM Energy by 560.3% in the first quarter. HBK Investments L P now owns 876,907 shares of the energy company’s stock worth $16,433,000 after buying an additional 744,107 shares in the last quarter. Spark Investment Management LLC bought a new position in SM Energy during the first quarter worth $2,640,000. TIAA CREF Investment Management LLC boosted its position in SM Energy by 56.3% in the first quarter. TIAA CREF Investment Management LLC now owns 304,932 shares of the energy company’s stock worth $5,714,000 after buying an additional 109,812 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in SM Energy during the first quarter worth $457,000. Institutional investors own 82.89% of the company’s stock.
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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