SM Energy Company (NYSE:SM) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, August 8th.
Several other research analysts also recently commented on the company. Credit Suisse Group started coverage on SM Energy in a report on Thursday, June 1st. They issued an “outperform” rating and a $30.00 target price on the stock. Williams Capital set a $40.00 price objective on SM Energy and gave the stock a “buy” rating in a report on Tuesday, May 16th. Scotiabank downgraded SM Energy from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, May 16th. Bank of America Corporation downgraded SM Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $48.00 to $37.00 in a report on Thursday, May 11th. Finally, Royal Bank Of Canada set a $36.00 price objective on SM Energy and gave the stock a “hold” rating in a report on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $33.29.
Shares of SM Energy (NYSE:SM) traded up 3.74% during mid-day trading on Tuesday, hitting $13.87. The company had a trading volume of 3,893,498 shares. The firm’s market cap is $1.55 billion. SM Energy has a 12-month low of $13.11 and a 12-month high of $43.09. The firm’s 50 day moving average is $16.10 and its 200-day moving average is $20.55.
SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.32) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.32). The company had revenue of $284.94 million for the quarter, compared to the consensus estimate of $299.12 million. SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) earnings per share. On average, equities analysts expect that SM Energy will post ($1.10) EPS for the current year.
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In other news, EVP Herbert S. Vogel bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was acquired at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the purchase, the executive vice president now owns 32,637 shares of the company’s stock, valued at approximately $541,774.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Javan D. Ottoson bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average price of $16.44 per share, with a total value of $32,880.00. Following the completion of the purchase, the chief executive officer now directly owns 143,302 shares in the company, valued at approximately $2,355,884.88. The disclosure for this purchase can be found here. Company insiders own 0.89% of the company’s stock.
A number of large investors have recently modified their holdings of SM. Vanguard Group Inc. increased its stake in shares of SM Energy by 16.2% in the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock valued at $210,889,000 after buying an additional 1,226,564 shares during the period. Causeway Capital Management LLC increased its stake in shares of SM Energy by 230.1% in the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock valued at $189,801,000 after buying an additional 4,816,230 shares during the period. Key Group Holdings Cayman LTD. boosted its position in SM Energy by 40.9% in the second quarter. Key Group Holdings Cayman LTD. now owns 5,305,568 shares of the energy company’s stock valued at $87,701,000 after buying an additional 1,538,955 shares in the last quarter. State Street Corp boosted its position in SM Energy by 17.7% in the second quarter. State Street Corp now owns 5,195,340 shares of the energy company’s stock valued at $85,878,000 after buying an additional 780,106 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in SM Energy by 12.6% in the second quarter. Alliancebernstein L.P. now owns 4,497,847 shares of the energy company’s stock valued at $74,349,000 after buying an additional 504,248 shares in the last quarter. Institutional investors and hedge funds own 97.40% 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 in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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