SM Energy Company (SM) Debt Trading 1.8% Higher
An issue of SM Energy Company (NYSE:SM) debt rose 1.8% against its face value during trading on Friday. The high-yield debt issue has a 5.625% coupon and is set to mature on June 1, 2025. The debt is now trading at $92.00 and was trading at $90.75 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
Several analysts have recently issued reports on the stock. Barclays PLC lowered their price target on shares of SM Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of SM Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Bank of America Corporation started coverage on shares of SM Energy in a report 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 stock a “hold” rating in a report on Thursday, August 24th. Finally, Credit Suisse Group started coverage on shares of SM Energy in a report on Thursday, June 1st. They set an “outperform” rating and a $30.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. SM Energy currently has a consensus rating of “Hold” and a consensus target price of $31.73.
Shares of SM Energy Company (NYSE:SM) traded down 0.76% during midday trading on Friday, hitting $15.60. 6,335,838 shares of the stock were exchanged. SM Energy Company has a 1-year low of $12.29 and a 1-year high of $43.09. The firm has a 50-day moving average of $14.54 and a 200-day moving average of $18.70. The company’s market capitalization is $1.74 billion.
SM Energy (NYSE:SM) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). SM Energy had a negative net margin of 20.67% and a negative return on equity of 3.11%. The company had revenue of $284.94 million for the quarter, compared to analysts’ expectations of $299.12 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. SM Energy’s quarterly revenue was down 16.6% on a year-over-year basis. On average, equities analysts expect that SM Energy Company will post ($1.14) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in SM Energy by 16.2% during the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock worth $210,889,000 after buying an additional 1,226,564 shares during the period. Causeway Capital Management LLC boosted its stake in SM Energy by 230.1% during the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock worth $189,801,000 after buying an additional 4,816,230 shares during the period. Key Group Holdings Cayman LTD. boosted its stake in SM Energy by 40.9% during the second quarter. Key Group Holdings Cayman LTD. now owns 5,305,568 shares of the energy company’s stock worth $87,701,000 after buying an additional 1,538,955 shares during the period. State Street Corp boosted its stake in SM Energy by 17.7% during the second quarter. State Street Corp now owns 5,195,340 shares of the energy company’s stock worth $85,878,000 after buying an additional 780,106 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in SM Energy by 12.6% during the second quarter. Alliancebernstein L.P. now owns 4,497,847 shares of the energy company’s stock worth $74,349,000 after buying an additional 504,248 shares during the period. 97.06% of the stock is owned by institutional investors.
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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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