SM Energy Co. (SM) Raised to “Overweight” at Capital One Financial Corp.
SM Energy Co. (NYSE:SM) was upgraded by Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a report released on Tuesday.
A number of other equities research analysts have also weighed in on the stock. Citigroup Inc. raised shares of SM Energy to a “neutral” rating and raised their price target for the company from $16.00 to $36.00 in a report on Monday, August 22nd. Simmons raised shares of SM Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $50.00 in a report on Monday, August 15th. Zacks Investment Research lowered shares of SM Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Cantor Fitzgerald reissued a “hold” rating and set a $24.00 price objective on shares of SM Energy in a report on Wednesday, July 6th. Finally, Williams Capital started coverage on shares of SM Energy in a report on Monday, August 29th. They set a “buy” rating and a $57.00 price objective for the company. Two equities research 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. SM Energy has a consensus rating of “Hold” and an average price target of $33.52.
SM Energy (NYSE:SM) opened at 38.72 on Tuesday. The company’s 50-day moving average is $37.27 and its 200 day moving average is $30.81. SM Energy has a 12-month low of $6.99 and a 12-month high of $42.33. The stock’s market capitalization is $2.65 billion.
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SM Energy (NYSE:SM) last released its quarterly 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. The business earned $341.80 million during the quarter, compared to analyst estimates of $328.18 million. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The business’s revenue was down 33.8% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, analysts predict that SM Energy will post ($2.38) EPS for the current year.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Friday, October 21st will be given a $0.05 dividend. This represents a dividend yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s dividend payout ratio (DPR) is currently -0.80%.
In other news, SVP Kenneth J. Knott sold 661 shares of SM Energy stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $40.00, for a total value of $26,440.00. Following the transaction, the senior vice president now directly owns 43,417 shares of the company’s stock, valued at $1,736,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in 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 worth $70,795,000 after buying an additional 464,526 shares during the last quarter. HBK Investments L P increased its position in shares of SM Energy by 560.3% in the first quarter. HBK Investments L P now owns 876,907 shares of the energy company’s stock worth $16,433,000 after buying an additional 744,107 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of SM Energy by 56.3% in the first quarter. TIAA CREF Investment Management LLC now owns 304,932 shares of the energy company’s stock worth $5,714,000 after buying an additional 109,812 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of SM Energy during the first quarter worth approximately $457,000. Finally, Teachers Advisors Inc. increased its position in shares of SM Energy by 50.6% in the first quarter. Teachers Advisors Inc. now owns 127,246 shares of the energy company’s stock worth $2,385,000 after buying an additional 42,748 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.
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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