Scotiabank upgraded shares of SM Energy Co. (NYSE:SM) from a sector perform rating to a sector outperform rating in a report published on Tuesday morning. Scotiabank currently has $48.00 target price on the energy company’s stock, up from their previous target price of $35.00.
Several other brokerages have also recently commented on SM. Zacks Investment Research upgraded SM Energy from a hold rating to a buy rating and set a $44.00 price target for the company in a research report on Tuesday, October 4th. Howard Weil upgraded SM Energy from a sector perform rating to a sector outperform rating and upped their target price for the company from $35.00 to $48.00 in a report on Tuesday, October 4th. Seaport Global Securities upgraded SM Energy from a neutral rating to a buy rating and upped their target price for the company from $30.00 to $53.00 in a report on Tuesday, August 30th. Williams Capital assumed coverage on SM Energy in a report on Monday, August 29th. They issued a buy rating and a $57.00 target price for the company. Finally, Citigroup Inc. upgraded SM Energy to a neutral rating and upped their target price for the company from $16.00 to $36.00 in a report on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. SM Energy presently has a consensus rating of Hold and an average price target of $33.52.
SM Energy (NYSE:SM) opened at 39.32 on Tuesday. The stock’s 50 day moving average price is $36.80 and its 200 day moving average price is $29.80. The stock’s market cap is $2.69 billion. SM Energy has a 52 week low of $6.99 and a 52 week high of $41.55.
SM Energy (NYSE:SM) last issued its quarterly earnings results on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, topping 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 analysts’ expectations of $328.18 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, analysts forecast that SM Energy will post ($2.38) earnings per share for the current year.
The business also recently declared a semiannual dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Friday, October 21st will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, October 19th. This represents a yield of 0.29%. SM Energy’s dividend payout ratio (DPR) is -0.80%.
In other news, SVP Kenneth J. Knott sold 661 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $40.00, for a total value of $26,440.00. Following the transaction, the senior vice president now owns 43,417 shares in the company, valued at approximately $1,736,680. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. increased its position in 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 worth $23,180,000 after buying an additional 836,534 shares during the last quarter. HBK Investments L P increased its position 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 worth $16,433,000 after buying an additional 744,107 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new position in SM Energy during the second quarter worth approximately $14,044,000. Prudential Financial Inc. increased its position in SM Energy by 358.4% in the first quarter. Prudential Financial Inc. now owns 660,030 shares of the energy company’s stock worth $12,369,000 after buying an additional 516,040 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in 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 worth $66,072,000 after buying an additional 472,335 shares during the last quarter. Institutional investors and hedge funds own 82.89% of the company’s stock.
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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