Traders Purchase High Volume of Put Options on SM Energy (SM)
SM Energy Company (NYSE:SM) was the recipient of some unusual options trading on Wednesday. Investors purchased 14,897 put options on the company. This represents an increase of approximately 676% compared to the average daily volume of 1,919 put options.
Several research analysts have recently weighed in on the company. Scotiabank set a $19.00 price target on SM Energy and gave the stock a “hold” rating in a research note on Saturday, July 1st. Williams Capital reiterated a “buy” rating and set a $30.00 price target on shares of SM Energy in a research note on Friday, September 15th. Barclays PLC cut their price target on SM Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, August 8th. BidaskClub downgraded SM Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, BMO Capital Markets set a $20.00 price target on SM Energy and gave the stock a “hold” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.73.
Shares of SM Energy (NYSE:SM) opened at 16.61 on Friday. The stock’s market cap is $1.85 billion. SM Energy has a one year low of $12.29 and a one year high of $43.09. The company’s 50-day moving average price is $14.37 and its 200-day moving average price is $18.41.
SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The business had revenue of $284.94 million during the quarter, compared to analyst estimates of $299.12 million. During the same quarter in the previous year, the company posted ($0.44) earnings per share. SM Energy’s revenue for the quarter was down 16.6% on a year-over-year basis. Equities research analysts anticipate that SM Energy will post ($1.14) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in SM. Causeway Capital Management LLC grew its holdings in SM Energy by 230.1% during the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock valued at $189,801,000 after purchasing an additional 4,816,230 shares during the period. Dimensional Fund Advisors LP grew its holdings in SM Energy by 66.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,211,268 shares of the energy company’s stock valued at $69,611,000 after purchasing an additional 1,688,246 shares during the period. Key Group Holdings Cayman LTD. grew its holdings in SM Energy by 40.9% during the second quarter. Key Group Holdings Cayman LTD. now owns 5,305,568 shares of the energy company’s stock valued at $87,701,000 after purchasing an additional 1,538,955 shares during the period. Vanguard Group Inc. grew its holdings in SM Energy by 16.2% during the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock valued at $210,889,000 after purchasing an additional 1,226,564 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in SM Energy by 33.1% during the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock valued at $95,926,000 after purchasing an additional 994,186 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.
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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 in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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