ValuEngine upgraded shares of SM Energy (NYSE:SM) from a sell rating to a hold rating in a research report report published on Thursday morning, ValuEngine reports.
A number of other research firms have also recently commented on SM. SunTrust Banks began coverage on SM Energy in a report on Tuesday, July 30th. They set a hold rating and a $10.00 price target for the company. Barclays cut SM Energy from an equal weight rating to an underweight rating and dropped their price target for the stock from $18.00 to $13.00 in a research report on Monday, July 1st. Wells Fargo & Co cut SM Energy from an outperform rating to a market perform rating and set a $23.00 price target on the stock. in a research report on Monday, July 8th. Raymond James dropped their price target on SM Energy from $20.00 to $15.00 and set an outperform rating on the stock in a research report on Thursday, July 18th. Finally, B. Riley set a $14.00 price target on SM Energy and gave the stock a hold rating in a research report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $21.83.
Shares of NYSE:SM traded up $0.94 during trading on Thursday, reaching $10.00. 6,842,595 shares of the company traded hands, compared to its average volume of 4,696,022. The business’s 50 day moving average price is $10.82. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 333.33 and a beta of 2.97. 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 52 week low of $8.51 and a 52 week high of $33.76.
SM Energy (NYSE:SM) last released its earnings results on Thursday, August 1st. The energy company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.13. The firm had revenue of $407.17 million during the quarter, compared to the consensus estimate of $407.53 million. SM Energy had a negative return on equity of 2.08% and a net margin of 2.91%. During the same period in the prior year, the company posted $0.15 EPS. As a group, sell-side analysts forecast that SM Energy will post -0.47 EPS for the current fiscal year.
In related news, CEO Javan D. Ottoson bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was acquired at an average cost of $14.63 per share, for a total transaction of $73,150.00. Following the purchase, the chief executive officer now owns 182,126 shares in the company, valued at $2,664,503.38. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP David W. Copeland bought 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were bought at an average price of $12.71 per share, with a total value of $127,100.00. Following the completion of the purchase, the executive vice president now owns 106,454 shares in the company, valued at approximately $1,353,030.34. The disclosure for this purchase can be found here. Insiders purchased a total of 17,000 shares of company stock worth $225,070 over the last ninety days. 1.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in SM Energy by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,716,900 shares of the energy company’s stock valued at $134,938,000 after buying an additional 631,315 shares during the last quarter. Oslo Asset Management AS increased its holdings in SM Energy by 18.8% during the 2nd quarter. Oslo Asset Management AS now owns 2,956,528 shares of the energy company’s stock valued at $37,016,000 after acquiring an additional 467,185 shares in the last quarter. Norges Bank purchased a new position in SM Energy during the 4th quarter valued at about $21,558,000. Geode Capital Management LLC increased its holdings in SM Energy by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,028,604 shares of the energy company’s stock valued at $15,922,000 after acquiring an additional 54,539 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in SM Energy by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 759,209 shares of the energy company’s stock valued at $9,505,000 after acquiring an additional 118,763 shares in the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.
About SM Energy
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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