Howard Weil upgraded shares of SM Energy Co. (NYSE:SM) from a sector perform rating to a sector outperform rating in a research report released on Tuesday. They currently have $48.00 target price on the energy company’s stock, up from their previous target price of $35.00.
SM has been the topic of a number of other research reports. Zacks Investment Research lowered shares of SM Energy from a buy rating to a hold rating in a research report on Tuesday, September 6th. Seaport Global Securities upgraded shares of SM Energy from a neutral rating to a buy rating and increased their target price for the stock from $30.00 to $53.00 in a research report on Tuesday, August 30th. Williams Capital assumed coverage on shares of SM Energy in a research report on Monday, August 29th. They set a buy rating and a $57.00 target price on the stock. Mitsubishi UFJ Financial Group upgraded shares of SM Energy from an underweight rating to a neutral rating and set a $36.00 target price on the stock in a research report on Tuesday, August 23rd. Finally, Citigroup Inc. upgraded shares of SM Energy to a neutral rating and increased their target price for the stock from $16.00 to $36.00 in a research report on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned 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 an average price target of $33.52.
SM Energy (NYSE:SM) opened at 40.12 on Tuesday. SM Energy has a 52-week low of $6.99 and a 52-week high of $42.23. The company’s market cap is $2.75 billion. The company has a 50-day moving average of $36.72 and a 200 day moving average of $29.66.
SM Energy (NYSE:SM) last announced its quarterly earnings results on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.27. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The business had revenue of $341.80 million for the quarter, compared to analyst estimates of $328.18 million. During the same quarter in the prior year, the business earned $0.49 EPS. SM Energy’s quarterly revenue was down 33.8% on a year-over-year basis. Equities research analysts predict that SM Energy will post ($2.38) EPS 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 $0.05 dividend. This represents a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, October 19th. SM Energy’s payout ratio is -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 shares were sold at an average price of $40.00, for a total value of $26,440.00. Following the completion of the sale, the senior vice president now directly owns 43,417 shares in the company, valued at $1,736,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in SM Energy during the second quarter worth approximately $124,000. BlueMountain Capital Management LLC bought a new stake in SM Energy during the second quarter worth approximately $230,000. Teacher Retirement System of Texas boosted its stake in SM Energy by 11.9% in the second quarter. Teacher Retirement System of Texas now owns 9,305 shares of the energy company’s stock worth $251,000 after buying an additional 993 shares during the last quarter. Amalgamated Bank bought a new stake in SM Energy during the second quarter worth approximately $277,000. Finally, Tower Research Capital LLC TRC bought a new stake in SM Energy during the second quarter worth approximately $285,000. Institutional investors and hedge funds own 82.89% of the company’s stock.
SM Energy Company Profile