SM Energy Co (NYSE:SM) Short Interest Up 6.2% in October

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SM Energy Co (NYSE:SM) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 14,320,000 shares, a growth of 6.2% from the September 30th total of 13,480,000 shares. Based on an average trading volume of 3,940,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 13.6% of the shares of the stock are short sold.

Several research analysts have issued reports on the company. SunTrust Banks assumed coverage on SM Energy in a research report on Tuesday, July 30th. They issued a “hold” rating and a $10.00 price objective for the company. KeyCorp cut their target price on SM Energy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on SM Energy in a research note on Monday, July 29th. They set a “hold” rating and a $10.00 target price on the stock. Wells Fargo & Co cut their target price on SM Energy from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 12th. Finally, Barclays cut their target price on SM Energy from $13.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. SM Energy currently has a consensus rating of “Hold” and an average target price of $17.06.

SM Energy stock traded down $0.40 during mid-day trading on Monday, hitting $8.79. 171,505 shares of the company’s stock traded hands, compared to its average volume of 4,113,118. The firm has a 50 day moving average price of $8.66 and a 200 day moving average price of $10.75. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.96. The company has a market cap of $1.00 billion, a PE ratio of 294.83 and a beta of 2.95. SM Energy has a one year low of $6.84 and a one year high of $22.15.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.01. SM Energy had a negative return on equity of 2.42% and a net margin of 14.67%. The company had revenue of $390.30 million for the quarter, compared to the consensus estimate of $387.68 million. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s quarterly revenue was down 15.0% compared to the same quarter last year. On average, analysts expect that SM Energy will post -0.51 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, October 25th were paid a $0.05 dividend. This represents a dividend yield of 1%. The ex-dividend date was Thursday, October 24th. SM Energy’s dividend payout ratio is presently 333.33%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in SM Energy by 31.0% during the 2nd quarter. BlackRock Inc. now owns 12,334,776 shares of the energy company’s stock worth $154,433,000 after acquiring an additional 2,921,362 shares during the last quarter. Atria Investments LLC acquired a new position in SM Energy during the 2nd quarter worth $41,961,000. Vanguard Group Inc. lifted its holdings in SM Energy by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,926,493 shares of the energy company’s stock worth $136,799,000 after buying an additional 582,176 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in SM Energy by 15.3% during the 2nd quarter. Macquarie Group Ltd. now owns 3,985,054 shares of the energy company’s stock worth $49,893,000 after buying an additional 529,277 shares in the last quarter. Finally, Oslo Asset Management AS lifted 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 worth $37,016,000 after buying an additional 467,185 shares in the last quarter. 98.92% of the stock is currently owned by institutional investors.

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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