SM Energy (NYSE:SM) Stock Jumps 4.3% – Here’s What Happened

SM Energy Company (NYSE:SM)’s stock price traded up 4.3% during trading on Friday. The company traded as high as $39.02 and last traded at $39.1170. 686,357 shares were traded during trading, a decline of 86% from the average session volume of 4,914,008 shares. The stock had previously closed at $37.52.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SM shares. Weiss Ratings upgraded shares of SM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Stephens reduced their target price on shares of SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Seaport Research Partners started coverage on shares of SM Energy in a research note on Thursday, September 3rd. They set a “sell” rating and a $35.00 price target on the stock. Stifel Nicolaus started coverage on shares of SM Energy in a report on Wednesday, September 9th. They issued a “hold” rating and a $42.00 price target for the company. Finally, Susquehanna raised their price target on shares of SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.76.

SM Energy Price Performance

The stock has a market capitalization of $9.30 billion, a P/E ratio of 7.71 and a beta of 0.95. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $35.94 and a two-hundred day simple moving average of $32.13.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.23. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The company’s revenue for the quarter was up 215.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. Sell-side analysts expect that SM Energy Company will post 7.63 EPS for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Monday, September 7th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, September 4th. SM Energy’s dividend payout ratio is currently 17.32%.

Insider Activity at SM Energy

In other SM Energy news, Director Ashwin Venkatraman sold 3,650 shares of SM Energy stock in a transaction 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 completion of the sale, the director owned 12,525 shares of the company’s stock, valued at approximately $479,457. The trade was 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 the company’s stock in a transaction 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 sale, the executive vice president owned 14,705 shares of the company’s stock, valued at $544,379.10. The trade was a 54.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On SM Energy

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of SM Energy by 112.1% during the 1st quarter. Royal Bank of Canada now owns 94,115 shares of the energy company’s stock worth $2,935,000 after buying an additional 49,740 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of SM Energy in the 2nd quarter valued at approximately $2,243,000. Readystate Asset Management LP raised its position in shares of SM Energy by 293.3% in the 2nd quarter. Readystate Asset Management LP now owns 222,880 shares of the energy company’s stock valued at $5,817,000 after acquiring an additional 166,208 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of SM Energy in the 1st quarter valued at approximately $1,053,000. Finally, Leeward Investments LLC MA bought a new position in SM Energy during the 1st quarter worth approximately $13,299,000. 94.56% of the stock is owned by institutional investors and hedge funds.

About SM Energy

SM Energy Company is an independent energy company engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. Its operations focus on onshore properties in the United States, with activities concentrated in major producing regions such as the Permian Basin in West Texas and the South Texas Eagle Ford.

The company’s products include crude oil, natural gas, and natural gas liquids, which it sells to energy marketers, midstream companies, and other purchasers.