Investors sold shares of SM Energy Co. (NYSE:SM) on strength during trading hours on Wednesday following insider selling activity. $36.78 million flowed into the stock on the tick-up and $74.97 million flowed out of the stock on the tick-down, for a money net flow of $38.19 million out of the stock. Of all equities tracked, SM Energy had the 18th highest net out-flow for the day. SM Energy traded up $1.65 for the day and closed at $40.06Specifically, SVP Kenneth J. Knott sold 661 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $40.00, for a total transaction of $26,440.00. Following the completion of the sale, the senior vice president now owns 43,417 shares in the company, valued at approximately $1,736,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.
A number of analysts have recently issued reports on SM shares. Deutsche Bank AG boosted their target price on SM Energy from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Tuesday, June 14th. Cantor Fitzgerald reiterated a “hold” rating and set a $24.00 target price on shares of SM Energy in a report on Wednesday, July 6th. Zacks Investment Research upgraded SM Energy from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, July 12th. Barclays PLC boosted their price target on SM Energy from $32.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Finally, KLR Group raised SM Energy from an “accumulate” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $43.00 in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $33.52.
The firm’s market capitalization is $2.74 billion. The stock has a 50 day moving average of $36.41 and a 200 day moving average of $29.51.
SM Energy (NYSE:SM) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. SM Energy had a negative return on equity of 9.92% and a negative net margin of 73.55%. The firm earned $341.80 million during the quarter, compared to the consensus estimate of $328.18 million. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, analysts predict that SM Energy Co. will post ($2.38) earnings per share for the current year.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Friday, October 21st will be paid a $0.05 dividend. The ex-dividend date is Wednesday, October 19th. This represents a dividend yield of 0.29%. SM Energy’s dividend payout ratio (DPR) is currently -0.80%.
Several large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in SM Energy by 14.0% in the first quarter. State Street Corp now owns 3,778,006 shares of the energy company’s stock valued at $70,795,000 after buying an additional 464,526 shares during the period. HBK Investments L P boosted its stake in SM Energy by 560.3% in the first quarter. HBK Investments L P now owns 876,907 shares of the energy company’s stock valued at $16,433,000 after buying an additional 744,107 shares during the period. Spark Investment Management LLC purchased a new stake in SM Energy during the first quarter valued at approximately $2,640,000. TIAA CREF Investment Management LLC boosted its stake in SM Energy by 56.3% in the first quarter. TIAA CREF Investment Management LLC now owns 304,932 shares of the energy company’s stock valued at $5,714,000 after buying an additional 109,812 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in SM Energy during the first quarter valued at approximately $457,000. 82.89% of the stock is owned by institutional investors.
About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States.
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