SM Energy Company (SM) Trading 6% Higher
SM Energy Company (NYSE:SM) traded up 6% during trading on Wednesday . The company traded as high as $14.34 and last traded at $14.25. 3,774,563 shares were traded during trading, a decline of 6% from the average session volume of 3,994,440 shares. The stock had previously closed at $13.44.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded SM Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Barclays PLC cut their target price on shares of SM Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 8th. Bank of America Corporation started coverage on shares of SM Energy in a research note on Wednesday, July 19th. They set a “neutral” rating and a $20.00 target price on the stock. Royal Bank Of Canada set a $20.00 target price on shares of SM Energy and gave the company a “hold” rating in a research note on Thursday, August 24th. Finally, Credit Suisse Group started coverage on shares of SM Energy in a research note on Thursday, June 1st. They set an “outperform” rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. SM Energy presently has a consensus rating of “Hold” and a consensus target price of $31.87.
The firm has a 50-day moving average price of $15.11 and a 200-day moving average price of $19.14. The company’s market cap is $1.59 billion.
SM Energy (NYSE:SM) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). SM Energy had a negative net margin of 20.67% and a negative return on equity of 3.11%. The business had revenue of $284.94 million for the quarter, compared to analyst estimates of $299.12 million. During the same period last year, the business posted ($0.44) earnings per share. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. On average, analysts predict that SM Energy Company will post ($1.14) EPS for the current fiscal year.
In related news, CEO Javan D. Ottoson acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were acquired at an average cost of $16.44 per share, for a total transaction of $32,880.00. Following the completion of the acquisition, the chief executive officer now directly owns 143,302 shares in the company, valued at approximately $2,355,884.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Herbert S. Vogel acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average price of $16.60 per share, for a total transaction of $49,800.00. Following the completion of the acquisition, the executive vice president now owns 32,637 shares of the company’s stock, valued at $541,774.20. The disclosure for this purchase can be found here. Company insiders own 0.89% of the company’s stock.
Large investors have recently modified their holdings of the stock. Meadow Creek Investment Management LLC raised its holdings in shares of SM Energy by 172.9% during the first quarter. Meadow Creek Investment Management LLC now owns 5,632 shares of the energy company’s stock worth $135,000 after acquiring an additional 3,568 shares during the period. Pacer Advisors Inc. raised its holdings in shares of SM Energy by 12.1% during the second quarter. Pacer Advisors Inc. now owns 9,878 shares of the energy company’s stock worth $163,000 after acquiring an additional 1,064 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in shares of SM Energy during the second quarter worth $165,000. Credit Agricole S A raised its holdings in shares of SM Energy by 13.2% during the first quarter. Credit Agricole S A now owns 7,106 shares of the energy company’s stock worth $171,000 after acquiring an additional 831 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management raised its holdings in shares of SM Energy by 3.2% during the second quarter. B & T Capital Management DBA Alpha Capital Management now owns 10,959 shares of the energy company’s stock worth $181,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.
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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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