SM Energy Co. (SM) Bonds Trading 1.9% Higher
An issue of SM Energy Co. (NYSE:SM) debt rose 1.9% as a percentage of its face value during trading on Tuesday. The debt issue has a 5.625% coupon and will mature on June 1, 2025. The debt is now trading at $100.25 and was trading at $98.00 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
SM has been the topic of several recent research reports. Zacks Investment Research downgraded SM Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Mitsubishi UFJ Financial Group upgraded SM Energy from an “underweight” rating to a “neutral” rating and set a $36.00 price target on the stock in a research note on Tuesday, August 23rd. Seaport Global Securities upgraded SM Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $53.00 in a research note on Tuesday, August 30th. Cantor Fitzgerald restated a “hold” rating and issued a $24.00 price target on shares of SM Energy in a research note on Wednesday, August 3rd. Finally, 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 research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. SM Energy currently has a consensus rating of “Hold” and an average target price of $33.52.
SM Energy Co. (NYSE:SM) opened at 39.01 on Wednesday. SM Energy Co. has a 12 month low of $6.99 and a 12 month high of $43.09. The stock’s market cap is $2.67 billion. The stock’s 50 day moving average price is $37.32 and its 200-day moving average price is $30.87.
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SM Energy (NYSE:SM) last posted its earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.27. The company earned $341.80 million during the quarter, compared to the consensus estimate of $328.18 million. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The firm’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Equities analysts expect that SM Energy Co. will post ($2.38) EPS for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, October 19th. This represents a yield of 0.29%. SM Energy’s dividend payout ratio is presently -0.80%.
In related news, SVP Kenneth J. Knott sold 661 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $40.00, for a total transaction of $26,440.00. Following the completion of the transaction, the senior vice president now directly owns 43,417 shares in the company, valued at $1,736,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services Inc increased its position 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 worth $341,000 after buying an additional 819 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in 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 in the last quarter. Teachers Advisors Inc. increased its position in 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 in the last quarter. Prudential Financial Inc. increased its position in SM Energy by 358.4% in the first quarter. Prudential Financial Inc. now owns 660,030 shares of the energy company’s stock worth $12,369,000 after buying an additional 516,040 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in SM Energy by 27.9% in the first quarter. Franklin Resources Inc. now owns 458,400 shares of the energy company’s stock worth $8,590,000 after buying an additional 100,100 shares in the last quarter. Institutional investors own 82.83% 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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