SM Energy Co. (SM) Upgraded by Capital One Financial Corp. to Overweight
SM Energy Co. (NYSE:SM) was upgraded by equities researchers at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday.
A number of other brokerages also recently commented on SM. Zacks Investment Research downgraded SM Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Mitsubishi UFJ Financial Group raised SM Energy from an “underweight” rating to a “neutral” rating and set a $36.00 price target for the company in a report on Tuesday, August 23rd. Seaport Global Securities raised SM Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $53.00 in a report on Tuesday, August 30th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $24.00 price target on shares of SM Energy in a report on Wednesday, August 3rd. Finally, KLR Group raised SM Energy from an “accumulate” rating to a “buy” rating and upped their price target for the stock from $37.00 to $43.00 in a report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. SM Energy presently has an average rating of “Hold” and a consensus price target of $33.52.
SM Energy (NYSE:SM) opened at 38.72 on Tuesday. SM Energy has a one year low of $6.99 and a one year high of $42.33. The stock has a 50 day moving average price of $37.27 and a 200-day moving average price of $30.81. The stock’s market cap is $2.65 billion.
SM Energy (NYSE:SM) last issued its earnings results 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 return on equity of 9.92% and a negative net margin of 73.55%. The firm had revenue of $341.80 million for the quarter, compared to the consensus estimate of $328.18 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s revenue was down 33.8% compared to the same quarter last year. Equities research analysts expect that SM Energy will post ($2.38) earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Friday, October 21st will be paid a $0.05 dividend. This represents a yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s dividend payout ratio is presently -0.80%.
In other SM Energy news, SVP Kenneth J. Knott sold 661 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 43,417 shares in the company, valued at $1,736,680. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in SM Energy by 3.4% in the second quarter. FMR LLC now owns 10,211,756 shares of the energy company’s stock worth $275,717,000 after buying an additional 335,165 shares during the period. Capital Research Global Investors boosted its stake in SM Energy by 4.4% in the second quarter. Capital Research Global Investors now owns 7,208,940 shares of the energy company’s stock worth $194,641,000 after buying an additional 304,076 shares during the period. Vanguard Group Inc. boosted its stake in SM Energy by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,060,965 shares of the energy company’s stock worth $136,646,000 after buying an additional 66,382 shares during the period. State Street Corp boosted its stake 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 during the period. Finally, BlackRock Fund Advisors boosted its stake in SM Energy by 4.8% in the second quarter. BlackRock Fund Advisors now owns 2,482,648 shares of the energy company’s stock worth $67,031,000 after buying an additional 113,370 shares during the period. Institutional investors and hedge funds own 82.83% 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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