SM Energy Co. (SM) Price Target Raised to $42.00 at Royal Bank Of Canada
SM Energy Co. (NYSE:SM) had its price objective hoisted by equities research analysts at Royal Bank Of Canada from $39.00 to $42.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “sector perform” rating on the energy company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 7.53% from the stock’s previous close.
Several other research firms have also weighed in on SM. Zacks Investment Research lowered shares of SM Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Mitsubishi UFJ Financial Group raised shares of SM Energy from an “underweight” rating to a “neutral” rating and set a $36.00 target price for the company in a report on Tuesday, August 23rd. Seaport Global Securities raised shares of SM Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $53.00 in a report on Tuesday, August 30th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $24.00 target price on shares of SM Energy in a report on Wednesday, August 3rd. Finally, KLR Group raised shares of SM Energy from an “accumulate” rating to a “buy” rating and lifted their target price for the company from $37.00 to $43.00 in a report 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. The stock currently has a consensus rating of “Hold” and an average target price of $34.64.
SM Energy (NYSE:SM) opened at 39.01 on Wednesday. SM Energy has a 12-month low of $6.99 and a 12-month high of $43.09. The stock’s market capitalization is $2.67 billion. The company has a 50 day moving average of $37.32 and a 200-day moving average of $30.87.
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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 (EPS) for the quarter, topping analysts’ consensus estimates 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 company earned $341.80 million during the quarter, compared to analyst estimates of $328.18 million. During the same period last year, the firm posted $0.49 EPS. SM Energy’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, equities research analysts forecast that SM Energy will post ($2.38) earnings per share for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Friday, October 21st will be paid 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 dividend payout ratio (DPR) is presently -0.80%.
In other SM Energy news, SVP Kenneth J. Knott sold 661 shares of the business’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 sale, the senior vice president now directly owns 43,417 shares in the company, valued at $1,736,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of SM. MSI Financial Services Inc raised its stake in shares of SM Energy by 35.0% in the third quarter. MSI Financial Services Inc now owns 20,938 shares of the energy company’s stock worth $808,000 after buying an additional 5,430 shares during the period. Capstone Asset Management Co. raised its stake in shares of SM Energy by 9.6% in the third quarter. Capstone Asset Management Co. now owns 12,356 shares of the energy company’s stock worth $477,000 after buying an additional 1,080 shares during the period. Fox Run Management L.L.C. purchased a new stake in SM Energy during the third quarter worth $617,000. Macquarie Group Ltd. raised its stake in SM Energy by 0.5% in the second quarter. Macquarie Group Ltd. now owns 1,580,149 shares of the energy company’s stock worth $42,664,000 after buying an additional 7,598 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in SM Energy during the second quarter worth $838,000. 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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