SM Energy Co. (SM) Lifted to Sector Outperform at Scotiabank
Scotiabank upgraded shares of SM Energy Co. (NYSE:SM) from a sector perform rating to a sector outperform rating in a research report released on Tuesday. They currently have $48.00 price target on the energy company’s stock, up from their prior price target of $35.00.
Several other brokerages also recently weighed in on SM. Howard Weil raised SM Energy from a sector perform rating to a sector outperform rating and upped their target price for the stock from $35.00 to $48.00 in a research note on Tuesday. Zacks Investment Research raised SM Energy from a hold rating to a buy rating and set a $44.00 target price for the company in a research note on Tuesday. Seaport Global Securities raised SM Energy from a neutral rating to a buy rating and upped their target price for the stock from $30.00 to $53.00 in a research note on Tuesday, August 30th. Williams Capital assumed coverage on SM Energy in a research note on Monday, August 29th. They set a buy rating and a $57.00 target price for the company. Finally, Citigroup Inc. raised SM Energy to a neutral rating and increased their price objective for the company from $16.00 to $36.00 in a research note on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $33.52.
SM Energy (NYSE:SM) opened at 40.12 on Tuesday. SM Energy has a 1-year low of $6.99 and a 1-year high of $42.23. The stock’s market capitalization is $2.75 billion. The firm’s 50-day moving average is $36.72 and its 200 day moving average is $29.66.
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, beating the Zacks’ consensus estimate 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 return on equity of 9.92% and a negative net margin of 73.55%. SM Energy’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. Equities analysts anticipate that SM Energy will post ($2.38) EPS for the current fiscal year.
The firm also recently announced a semiannual dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Friday, October 21st will be given a dividend of $0.05 per share. This represents a dividend yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s dividend payout ratio (DPR) is presently -0.80%.
In other 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of SM Energy during the second quarter valued at $124,000. BlueMountain Capital Management LLC acquired a new stake in shares of SM Energy during the second quarter valued at $230,000. Teacher Retirement System of Texas raised its stake in shares of SM Energy by 11.9% in the second quarter. Teacher Retirement System of Texas now owns 9,305 shares of the energy company’s stock valued at $251,000 after buying an additional 993 shares during the period. Amalgamated Bank acquired a new stake in shares of SM Energy during the second quarter valued at $277,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of SM Energy during the second quarter valued at $285,000. 82.89% of the stock is currently owned by institutional investors and hedge funds.
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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