Trade Report: The SM Energy Co. (SM) Upgraded at Howard Weil

The SM Energy Co. (SM) Upgraded at Howard Weil

SM Energy Co. (NYSE:SM) was upgraded by Howard Weil from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Tuesday. The brokerage presently has a $48.00 target price on the energy company’s stock, up from their previous target price of $35.00. Howard Weil’s price objective points to a potential upside of 22.08% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Deutsche Bank AG raised their price target on shares of SM Energy from $31.00 to $35.00 and gave the company a “hold” rating in a research report on Tuesday, June 14th. Simmons raised shares of SM Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $38.00 to $50.00 in a research report on Monday, August 15th. KLR Group raised shares of SM Energy from an “accumulate” rating to a “buy” rating and raised their price target for the company from $37.00 to $43.00 in a research report on Tuesday, August 9th. KeyCorp raised shares of SM Energy from a “sector weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $24.00 price target on shares of SM Energy in a research report on Wednesday, August 3rd. Two equities 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. SM Energy has a consensus rating of “Hold” and a consensus target price of $33.52.

SM Energy (NYSE:SM) traded down 1.99% during trading on Tuesday, reaching $39.32. The company had a trading volume of 1,593,181 shares. SM Energy has a 12-month low of $6.99 and a 12-month high of $41.55. The firm’s market capitalization is $2.69 billion. The firm’s 50 day moving average price is $36.80 and its 200 day moving average price is $29.80.

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SM Energy (NYSE:SM) last announced its earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share 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 earned $341.80 million during the quarter, compared to the consensus estimate of $328.18 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. Equities research analysts forecast that SM Energy will post ($2.38) EPS for the current year.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a yield of 0.29%. SM Energy’s payout ratio is -0.80%.

In related news, SVP Kenneth J. Knott sold 661 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $40.00, for a total transaction of $26,440.00. Following the transaction, the senior vice president now directly owns 43,417 shares in the company, valued at approximately $1,736,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of SM Energy by 14.0% in the first quarter. State Street Corp now owns 3,778,006 shares of the energy company’s stock valued at $70,795,000 after buying an additional 464,526 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of SM Energy by 104.3% in the first quarter. Canada Pension Plan Investment Board now owns 113,200 shares of the energy company’s stock valued at $2,121,000 after buying an additional 57,800 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of SM Energy during the first quarter valued at approximately $2,640,000. Palisade Capital Management LLC NJ increased its position in shares of SM Energy by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 397,767 shares of the energy company’s stock valued at $7,454,000 after buying an additional 38,089 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of SM Energy during the first quarter valued at approximately $457,000. Institutional investors own 82.89% of the company’s stock.

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