SM Energy (NYSE:SM) Shares Gap Down – What’s Next?

SM Energy Company (NYSE:SM) shares gapped down prior to trading on Monday . The stock had previously closed at $36.97, but opened at $35.91. SM Energy shares last traded at $35.2380, with a volume of 665,033 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded SM Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Wells Fargo & Company raised shares of SM Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $47.00 in a research note on Thursday, August 13th. Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. Stephens lowered their price target on SM Energy from $61.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Finally, KeyCorp boosted their price objective on SM Energy from $39.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.38.

SM Energy Stock Down 5.7%

The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a market cap of $8.29 billion, a PE ratio of 6.87 and a beta of 0.75. The firm has a fifty day moving average of $34.28 and a 200 day moving average of $31.08.

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

SM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. SM Energy’s dividend payout ratio (DPR) is presently 17.32%.

Insider Transactions at SM Energy

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

Institutional Investors Weigh In On SM Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its holdings in shares of SM Energy by 135.8% in the second quarter. Sequoia Financial Advisors LLC now owns 57,623 shares of the energy company’s stock valued at $1,504,000 after purchasing an additional 33,181 shares during the period. Tidal Investments LLC lifted its stake in shares of SM Energy by 19.7% in the 2nd quarter. Tidal Investments LLC now owns 18,189 shares of the energy company’s stock worth $475,000 after acquiring an additional 2,989 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of SM Energy in the second quarter valued at about $1,489,000. Integrated Wealth Concepts LLC acquired a new position in shares of SM Energy during the second quarter worth about $70,000. Finally, IFP Advisors Inc raised its holdings in SM Energy by 1.8% during the second quarter. IFP Advisors Inc now owns 18,006 shares of the energy company’s stock worth $470,000 after purchasing an additional 315 shares in the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

About SM Energy

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.