Howard Weil upgraded shares of SM Energy Co. (NYSE:SM) from a sector perform rating to a sector outperform rating in a research note issued to investors on Tuesday. Howard Weil currently has $48.00 price objective on the energy company’s stock, up from their prior price objective of $35.00.
Other equities research analysts have also recently issued reports about the company. Seaport Global Securities upgraded SM Energy from a neutral rating to a buy rating and upped their price target for the company from $30.00 to $53.00 in a research report on Tuesday, August 30th. Williams Capital assumed coverage on SM Energy in a research report on Monday, August 29th. They set a buy rating and a $57.00 price target on the stock. Cantor Fitzgerald reiterated a hold rating on shares of SM Energy in a research report on Sunday, August 14th. Zacks Investment Research upgraded SM Energy from a hold rating to a buy rating and set a $41.00 price target on the stock in a research report on Friday, August 19th. Finally, Piper Jaffray Cos. upgraded SM Energy from a neutral rating to an overweight rating in a research report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen 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 $33.52.
Shares of SM Energy (NYSE:SM) opened at 39.32 on Tuesday. SM Energy has a 52-week low of $6.99 and a 52-week high of $41.55. The company’s 50-day moving average is $36.80 and its 200 day moving average is $29.80. The firm’s market capitalization is $2.69 billion.
SM Energy (NYSE:SM) last released its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. The business had revenue of $341.80 million for the quarter, compared to the consensus estimate of $328.18 million. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The company’s revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Analysts expect that SM Energy will post ($2.38) EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Friday, October 21st will be given a dividend of $0.05 per share. This represents a yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s dividend payout ratio is currently -0.80%.
In other SM Energy news, SVP Kenneth J. Knott sold 661 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 43,417 shares of the company’s stock, valued at $1,736,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SM. UBS Asset Management Americas Inc. raised its position in shares of SM Energy by 208.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,236,903 shares of the energy company’s stock valued at $23,180,000 after buying an additional 836,534 shares in the last quarter. HBK Investments L P raised its position in shares of 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 in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of SM Energy during the second quarter valued at approximately $14,044,000. Prudential Financial Inc. raised its position in shares of SM Energy by 358.4% in the first quarter. Prudential Financial Inc. now owns 660,030 shares of the energy company’s stock valued at $12,369,000 after buying an additional 516,040 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of SM Energy by 23.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,447,114 shares of the energy company’s stock valued at $66,072,000 after buying an additional 472,335 shares in the last quarter. 82.89% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for SM Energy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SM Energy Co. and related companies with MarketBeat.com's FREE daily email newsletter.