SM Energy Co. (SM) Shares Up 4.1%
SM Energy Co. (NYSE:SM) shot up 4.1% during mid-day trading on Wednesday . The stock traded as high as $35.30 and last traded at $34.61, with a volume of 1,265,454 shares traded. The stock had previously closed at $33.24.
Several brokerages recently issued reports on SM. Deutsche Bank AG upped their price target on SM Energy from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Tuesday, June 14th. Simmons upgraded SM Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $38.00 to $50.00 in a report on Monday, August 15th. KLR Group upgraded 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. KeyCorp upgraded SM Energy from a “sector weight” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Wednesday, August 10th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $24.00 price target on shares of SM Energy in a report 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 issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $32.07.
The stock’s market cap is $2.40 billion. The company’s 50-day moving average is $34.75 and its 200 day moving average is $28.10.
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SM Energy (NYSE:SM) last announced its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $341.80 million for the quarter, compared to the consensus estimate of $328.18 million. During the same period in the previous year, the business earned $0.49 earnings per share. The business’s revenue was down 33.8% on a year-over-year basis. Equities research analysts anticipate that SM Energy Co. will post ($2.40) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in SM. Nisa Investment Advisors LLC acquired a new position in shares of SM Energy during the second quarter valued at approximately $124,000. BlueMountain Capital Management LLC acquired a new position in shares of SM Energy during the second quarter valued at approximately $230,000. Teacher Retirement System of Texas increased its position in shares of SM Energy by 11.9% in the second quarter. Teacher Retirement System of Texas now owns 9,305 shares of the energy company’s stock valued at $251,000 after buying an additional 993 shares during the last quarter. Amalgamated Bank acquired a new position in shares of SM Energy during the second quarter valued at approximately $277,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of SM Energy during the second quarter valued at approximately $285,000. 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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