SM Energy (NYSE:SM) issued its quarterly earnings data on Thursday. The energy company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.13, Morningstar.com reports. The firm had revenue of $407.17 million for the quarter, compared to analyst estimates of $407.53 million. SM Energy had a net margin of 2.91% and a negative return on equity of 2.08%. During the same period in the previous year, the firm earned $0.15 EPS.
Shares of SM stock traded up $0.94 during trading hours on Friday, reaching $10.00. 6,842,595 shares of the stock were exchanged, compared to its average volume of 4,696,022. The stock has a fifty day moving average price of $10.82. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41. SM Energy has a 12-month low of $8.51 and a 12-month high of $33.76. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 333.33 and a beta of 2.97.
In other SM Energy news, CEO Javan D. Ottoson purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $14.63 per share, with a total value of $73,150.00. Following the completion of the acquisition, the chief executive officer now directly owns 182,126 shares of the company’s stock, valued at approximately $2,664,503.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David W. Copeland purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $12.71 per share, with a total value of $127,100.00. Following the completion of the acquisition, the executive vice president now directly owns 106,454 shares of the company’s stock, valued at $1,353,030.34. The disclosure for this purchase can be found here. Insiders have purchased 17,000 shares of company stock worth $225,070 over the last 90 days. Insiders own 1.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SM. Twin Tree Management LP acquired a new position in SM Energy in the first quarter valued at approximately $36,000. Private Capital Group LLC boosted its holdings in SM Energy by 113.3% in the first quarter. Private Capital Group LLC now owns 2,536 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,347 shares in the last quarter. CWM Advisors LLC acquired a new position in SM Energy in the second quarter valued at approximately $179,000. Dupont Capital Management Corp boosted its holdings in SM Energy by 29.5% in the second quarter. Dupont Capital Management Corp now owns 15,349 shares of the energy company’s stock valued at $192,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new position in SM Energy in the first quarter valued at approximately $199,000. 98.89% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. B. Riley set a $14.00 price objective on shares of SM Energy and gave the company a “hold” rating in a report on Wednesday, June 19th. Barclays lowered shares of SM Energy from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $18.00 to $13.00 in a research note on Monday, July 1st. Wells Fargo & Co lowered shares of SM Energy from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a research note on Monday, July 8th. Stephens reiterated an “overweight” rating and set a $20.00 price target (down from $26.00) on shares of SM Energy in a research note on Tuesday, June 18th. Finally, ValuEngine upgraded shares of SM Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.83.
SM Energy Company Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.
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