SM Energy (NYSE:SM) Stock Rating Upgraded by Zacks Research

SM Energy (NYSE:SM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. Mizuho set a $39.00 price target on shares of SM Energy in a research note on Wednesday. Weiss Ratings upgraded SM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. UBS Group raised their target price on SM Energy from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Wells Fargo & Company upgraded SM Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $47.00 in a research report on Thursday, August 13th. Finally, Seaport Research Partners started coverage on SM Energy in a report on Thursday, September 3rd. They set a “sell” rating and a $35.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, SM Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.81.

SM Energy Trading Up 5.4%

Shares of NYSE:SM opened at $37.14 on Wednesday. The stock’s 50-day simple moving average is $35.22 and its two-hundred day simple moving average is $31.90. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 7.31 and a beta of 0.95. SM Energy has a 52-week low of $17.45 and a 52-week high of $41.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The business’s revenue for the quarter was up 215.3% compared to the same quarter last year. Analysts expect that SM Energy will post 7.55 EPS for the current year.

Insiders Place Their Bets

In other news, EVP James Barker Lebeck sold 17,500 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $37.02, for a total value of $647,850.00. Following the transaction, the executive vice president directly owned 14,705 shares in the company, valued at $544,379.10. The trade was a 54.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ashwin Venkatraman sold 3,650 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the completion of the transaction, the director directly owned 12,525 shares of the company’s stock, valued at approximately $479,457. This trade represents a 22.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of SM Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in SM. Torren Management LLC grew its holdings in SM Energy by 4,561.1% during the 1st quarter. Torren Management LLC now owns 839 shares of the energy company’s stock valued at $26,000 after buying an additional 821 shares in the last quarter. Kilter Group LLC purchased a new position in shares of SM Energy in the second quarter worth $28,000. Center for Financial Planning Inc. purchased a new position in shares of SM Energy in the first quarter worth $31,000. Valued Wealth Advisors LLC bought a new position in shares of SM Energy during the first quarter worth $33,000. Finally, CoreCap Advisors LLC boosted its position in shares of SM Energy by 211.2% during the third quarter. CoreCap Advisors LLC now owns 974 shares of the energy company’s stock worth $33,000 after acquiring an additional 661 shares during the last quarter. Institutional investors own 94.56% of the company’s stock.

About SM Energy

SM Energy Company is an independent energy company engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. Its operations focus on onshore properties in the United States, with activities concentrated in major producing regions such as the Permian Basin in West Texas and the South Texas Eagle Ford.

The company’s products include crude oil, natural gas, and natural gas liquids, which it sells to energy marketers, midstream companies, and other purchasers.