SM Energy Co. (SM) Trading Up 5.6% Following Analyst Upgrade
SM Energy Co. (NYSE:SM) shares were up 5.6% during trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from $39.00 to $42.00. Royal Bank Of Canada currently has a sector perform rating on the stock. SM Energy traded as high as $41.37 and last traded at $41.24, with a volume of 2,396,745 shares changing hands. The stock had previously closed at $39.06.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of SM Energy from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Friday, August 19th. KLR Group upgraded shares of SM Energy from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $37.00 to $43.00 in a research report on Tuesday, August 9th. Williams Capital initiated coverage on shares of SM Energy in a research report on Monday, August 29th. They set a “buy” rating and a $57.00 target price on the stock. Seaport Global Securities upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $53.00 in a research report on Tuesday, August 30th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $24.00 target price on shares of SM Energy in a research report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.64.
In other news, SVP Kenneth J. Knott sold 661 shares of the 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 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 filing with the SEC, which is available at this link. Insiders own 1.70% of the company’s stock.
A number of large investors have recently bought and sold shares of SM. Utah Retirement Systems boosted its stake in SM Energy by 0.8% in the second quarter. Utah Retirement Systems now owns 12,120 shares of the energy company’s stock worth $327,000 after buying an additional 100 shares during the last quarter. State Treasurer State of Michigan boosted its stake in SM Energy by 1.5% in the second quarter. State Treasurer State of Michigan now owns 27,300 shares of the energy company’s stock worth $737,000 after buying an additional 400 shares during the last quarter. Commonwealth Equity Services Inc boosted its stake in SM Energy by 4.7% in the first quarter. Commonwealth Equity Services Inc now owns 18,171 shares of the energy company’s stock worth $341,000 after buying an additional 819 shares during the last quarter. LS Investment Advisors LLC boosted its stake in SM Energy by 1.5% in the second quarter. LS Investment Advisors LLC now owns 58,894 shares of the energy company’s stock worth $1,590,000 after buying an additional 880 shares during the last quarter. Finally, BOKF NA boosted its stake in SM Energy by 7.6% in the second quarter. BOKF NA now owns 13,630 shares of the energy company’s stock worth $368,000 after buying an additional 962 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.
The company has a 50 day moving average price of $37.32 and a 200-day moving average price of $30.87. The company’s market capitalization is $2.84 billion.
SM Energy (NYSE:SM) last released its quarterly earnings results on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate 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 business earned $341.80 million during the quarter, compared to analysts’ expectations of $328.18 million. During the same quarter in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. On average, equities analysts predict that SM Energy Co. will post ($2.38) EPS for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Friday, October 21st will be issued a $0.05 dividend. The ex-dividend date is Wednesday, October 19th. This represents a dividend yield of 0.29%. SM Energy’s payout ratio is -0.80%.
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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