SM Energy Co. (NYSE:SM) shares shot up 4.6% during trading on Friday . The stock traded as high as $39.70 and last traded at $39.29, with a volume of 1,462,094 shares traded. The stock had previously closed at $37.56.

Several brokerages have commented on SM. Seaport Global Securities upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $30.00 to $53.00 in a report on Tuesday, August 30th. Williams Capital began coverage on shares of SM Energy in a report on Monday, August 29th. They set a “buy” rating and a $57.00 price target for the company. Zacks Investment Research upgraded shares of SM Energy from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Friday, August 19th. Citigroup Inc. upgraded shares of SM Energy to a “neutral” rating and raised their price target for the stock from $16.00 to $36.00 in a report on Monday, August 22nd. Finally, Mitsubishi UFJ Financial Group upgraded shares of SM Energy from an “underweight” rating to a “neutral” rating and set a $36.00 price target for the company in a report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.07.

The firm has a 50 day moving average price of $31.69 and a 200-day moving average price of $25.68. The firm’s market cap is $2.66 billion.

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, topping analysts’ consensus estimates of ($0.71) by $0.27. The firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $328.18 million. The company’s revenue was down 33.8% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Analysts forecast that SM Energy Co. will post ($2.40) EPS for the current fiscal year.

A hedge fund recently raised its stake in SM Energy stock. I.G. Investment Management LTD. increased its position in SM Energy Co. (NYSE:SM) by 16.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 175,000 shares of the energy company’s stock after buying an additional 25,000 shares during the period. I.G. Investment Management LTD. owned approximately 0.26% of SM Energy worth $3,441,000 at the end of the most recent quarter.

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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