SM Energy Co. (SM) Shares Gap Up to $34.88
SM Energy Co. (NYSE:SM)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $34.54, but opened at $34.88. SM Energy shares last traded at $35.90, with a volume of 1,904,899 shares traded.
Several brokerages recently issued reports on SM. Zacks Investment Research upgraded SM Energy from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday. Simmons upgraded SM Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $50.00 in a research note on Monday, August 15th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of SM Energy in a research report on Sunday, August 14th. Piper Jaffray Cos. raised SM Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, August 15th. Finally, KLR Group raised SM Energy from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $37.00 to $43.00 in a research report on Tuesday, August 9th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. SM Energy currently has a consensus rating of “Hold” and a consensus target price of $27.77.
The firm’s market capitalization is $2.51 billion. The company has a 50 day moving average price of $28.49 and a 200 day moving average price of $23.97.
SM Energy (NYSE:SM) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. During the same quarter in the previous year, the firm posted $0.49 EPS. The business earned $341.80 million during the quarter, compared to the consensus estimate of $328.18 million. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. Equities research analysts predict that SM Energy Co. will post ($2.50) earnings per share for the current fiscal year.
A number of institutional investors have modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. increased its position in shares of SM Energy by 35.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 78,300 shares of the energy company’s stock valued at $1,539,000 after buying an additional 20,392 shares during the last quarter. I.G. Investment Management LTD. increased its position in shares of SM Energy by 16.7% in the fourth quarter. I.G. Investment Management LTD. now owns 175,000 shares of the energy company’s stock valued at $3,441,000 after buying an additional 25,000 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of SM Energy by 6.0% in the fourth quarter. BlackRock Advisors LLC now owns 982,591 shares of the energy company’s stock valued at $19,318,000 after buying an additional 55,203 shares during the last 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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