SM Energy Co. (SM) Trading Down 2.2%
SM Energy Co. (NYSE:SM) traded down 2.2% during trading on Tuesday . The company traded as low as $33.27 and last traded at $33.80, with a volume of 1,213,367 shares. The stock had previously closed at $34.55.
A number of equities research analysts have recently commented on the company. Deutsche Bank AG increased their target price on SM Energy from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Tuesday, June 14th. Simmons raised SM Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $50.00 in a research note on Monday, August 15th. KLR Group raised 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 note on Tuesday, August 9th. KeyCorp raised SM Energy from a “sector weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research note on Wednesday, August 10th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $24.00 target price on shares of SM Energy in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.07.
The firm’s 50-day moving average is $34.75 and its 200-day moving average is $28.10. The stock’s market capitalization is $2.28 billion.
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SM Energy (NYSE:SM) last posted its quarterly earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. The business had revenue of $341.80 million for the quarter, compared to the consensus estimate of $328.18 million. SM Energy had a negative return on equity of 9.92% and a negative net margin of 73.55%. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. On average, equities analysts expect that SM Energy Co. will post ($2.40) earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in SM Energy during the fourth quarter valued at $12,696,000. Glenmede Trust Co. NA increased its stake in SM Energy by 90.3% in the first quarter. Glenmede Trust Co. NA now owns 23,510 shares of the energy company’s stock valued at $438,000 after buying an additional 11,157 shares during the last quarter. Commonwealth Equity Services Inc increased 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 valued at $341,000 after buying an additional 819 shares during the last quarter. Virginia Retirement System purchased a new stake in SM Energy during the first quarter valued at $690,000. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in SM Energy during the first quarter valued at $374,000. Institutional investors and hedge funds 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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