SM Energy Co. (SM) Lifted to Sector Outperform at Howard Weil
SM Energy Co. (NYSE:SM) was upgraded by equities researchers at Howard Weil from a “sector perform” rating to a “sector outperform” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $48.00 price target on the energy company’s stock, up from their previous price target of $35.00. Howard Weil’s price target points to a potential upside of 23.36% from the stock’s current price.
Several other brokerages also recently issued reports on SM. Zacks Investment Research downgraded SM Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. 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 report on Tuesday, August 30th. Williams Capital assumed coverage on SM Energy in a report on Monday, August 29th. They set a “buy” rating and a $57.00 price target for the company. Citigroup Inc. upgraded SM Energy to a “neutral” rating and upped 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 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 given a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.76.
Shares of SM Energy (NYSE:SM) opened at 38.91 on Tuesday. The stock’s 50 day moving average price is $36.31 and its 200-day moving average price is $29.36. The firm’s market cap is $2.66 billion. SM Energy has a 12-month low of $6.99 and a 12-month high of $42.23.
SM Energy (NYSE:SM) last announced its quarterly earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. SM Energy had a negative return on equity of 9.92% and a negative net margin of 73.55%. The business earned $341.80 million during the quarter, compared to the consensus estimate of $328.18 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. SM Energy’s revenue was down 33.8% compared to the same quarter last year. On average, analysts predict that SM Energy will post ($2.38) earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be issued 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 (DPR) is -0.80%.
In other SM Energy news, SVP Kenneth J. Knott sold 661 shares of the firm’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $40.00, for a total value of $26,440.00. Following the sale, the senior vice president now owns 43,417 shares of the company’s stock, valued at approximately $1,736,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in SM Energy by 14.0% in the first quarter. State Street Corp now owns 3,778,006 shares of the energy company’s stock valued at $70,795,000 after buying an additional 464,526 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in SM Energy by 104.3% in the first quarter. Canada Pension Plan Investment Board now owns 113,200 shares of the energy company’s stock valued at $2,121,000 after buying an additional 57,800 shares during the last quarter. Spark Investment Management LLC acquired a new stake in SM Energy during the first quarter valued at $2,640,000. Palisade Capital Management LLC NJ boosted its stake in SM Energy by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 397,767 shares of the energy company’s stock valued at $7,454,000 after buying an additional 38,089 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in SM Energy during the first quarter valued at $457,000. 82.89% of the stock is currently owned by hedge funds and other institutional investors.
SM Energy Company Profile
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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