SM Energy (NYSE:SM) Stock Price Expected to Rise, UBS Group Analyst Says

SM Energy (NYSE:SM) had its price objective increased by equities researchers at UBS Group from $36.00 to $48.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. UBS Group’s price objective would indicate a potential upside of 23.52% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Seaport Research Partners started coverage on shares of SM Energy in a report on Thursday, September 3rd. They issued a “sell” rating and a $35.00 target price on the stock. Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.00 in a report on Monday, June 22nd. Raymond James Financial cut their price objective on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. Mizuho upgraded SM Energy to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SM Energy in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.94.

SM Energy Stock Performance

NYSE SM traded up $0.76 during trading hours on Monday, hitting $38.86. The company’s stock had a trading volume of 2,581,045 shares, compared to its average volume of 5,101,148. SM Energy has a 12 month low of $17.45 and a 12 month high of $39.96. The company’s 50 day simple moving average is $33.23 and its two-hundred day simple moving average is $30.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $9.24 billion, a P/E ratio of 7.64 and a beta of 0.75.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was up 215.3% on a year-over-year basis. As a group, sell-side analysts expect that SM Energy will post 7.48 EPS for the current fiscal year.

Insider Transactions at SM Energy

In other SM Energy news, Director Ashwin Venkatraman sold 3,650 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $38.28, for a total transaction of $139,722.00. Following the sale, the director owned 12,525 shares in the company, valued at approximately $479,457. This trade represents a 22.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Barker Lebeck sold 17,500 shares of SM Energy stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the transaction, the executive vice president directly owned 14,705 shares in the company, valued at $544,379.10. This represents a 54.34% decrease in their position. The SEC filing for this sale provides additional information. 0.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in SM Energy in the 2nd quarter worth $1,025,229,000. Canada Pension Plan Investment Board bought a new stake in SM Energy during the second quarter valued at about $378,288,000. Dimensional Fund Advisors LP lifted its position in shares of SM Energy by 79.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock valued at $311,678,000 after acquiring an additional 4,426,751 shares in the last quarter. Donald Smith & CO. Inc. bought a new position in shares of SM Energy in the second quarter worth about $199,602,000. Finally, California State Teachers Retirement System grew its position in shares of SM Energy by 2,798.5% during the second quarter. California State Teachers Retirement System now owns 7,257,236 shares of the energy company’s stock worth $189,414,000 after purchasing an additional 7,006,855 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. Its operations focus on acquiring and developing oil and gas properties and producing hydrocarbons from onshore assets in the United States.

The company’s principal operations are concentrated in the Permian Basin of West Texas and the South Texas region. SM Energy has also expanded its U.S. operating portfolio through acquisitions, including assets in Utah’s Uinta Basin.