SM Energy Co. (SM) Upgraded at Howard Weil
SM Energy Co. (NYSE:SM) was upgraded by Howard Weil from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Tuesday. The brokerage presently has a $48.00 target price on the energy company’s stock, up from their previous target price of $35.00. Howard Weil’s price objective points to a potential upside of 22.08% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. Deutsche Bank AG raised their price target on shares of SM Energy from $31.00 to $35.00 and gave the company a “hold” rating in a research report on Tuesday, June 14th. Simmons raised shares of SM Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $38.00 to $50.00 in a research report on Monday, August 15th. KLR Group raised shares of SM Energy from an “accumulate” rating to a “buy” rating and raised their price target for the company from $37.00 to $43.00 in a research report on Tuesday, August 9th. KeyCorp raised shares of SM Energy from a “sector weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $24.00 price target on shares of SM Energy in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. SM Energy has a consensus rating of “Hold” and a consensus target price of $33.52.
SM Energy (NYSE:SM) traded down 1.99% during trading on Tuesday, reaching $39.32. The company had a trading volume of 1,593,181 shares. SM Energy has a 12-month low of $6.99 and a 12-month high of $41.55. The firm’s market capitalization is $2.69 billion. The firm’s 50 day moving average price is $36.80 and its 200 day moving average price is $29.80.
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SM Energy (NYSE:SM) last announced its earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share for the quarter, beating 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 the consensus estimate of $328.18 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. Equities research analysts forecast that SM Energy will post ($2.38) EPS for the current year.
The company also recently declared a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a yield of 0.29%. SM Energy’s payout ratio is -0.80%.
In related news, SVP Kenneth J. Knott sold 661 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $40.00, for a total transaction of $26,440.00. Following the transaction, the senior vice president now directly owns 43,417 shares in the company, valued at approximately $1,736,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of SM Energy by 14.0% in the first quarter. State Street Corp now owns 3,778,006 shares of the energy company’s stock valued at $70,795,000 after buying an additional 464,526 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of SM Energy by 104.3% in the first quarter. Canada Pension Plan Investment Board now owns 113,200 shares of the energy company’s stock valued at $2,121,000 after buying an additional 57,800 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of SM Energy during the first quarter valued at approximately $2,640,000. Palisade Capital Management LLC NJ increased its position in shares of SM Energy by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 397,767 shares of the energy company’s stock valued at $7,454,000 after buying an additional 38,089 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of SM Energy during the first quarter valued at approximately $457,000. Institutional investors 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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