SM Energy (NYSE:SM) Hits New 52-Week High - What's Next?

Key Points

• SM Energy shares reached a new 52-week high of $38.25, trading around $38.19, while the stock’s consensus analyst rating remains “Moderate Buy” with a $37.93 target price.
• The company delivered a strong quarterly performance, reporting $2.19 in EPS versus estimates of $1.96 and $2.50 billion in revenue, up 215.3% year over year.
• SM Energy declared a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 payout and a 2.3% yield; an executive also sold 17,500 shares worth approximately $647,850.

Shares of SM Energy Company (NYSE:SM - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.25 and last traded at $38.19, with a volume of 152816 shares. The stock had previously closed at $38.04.

Wall Street Analyst Weigh In

A number of brokerages have commented on SM. Stephens decreased their price objective on SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. Truist Financial lifted their price objective on SM Energy from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Wall Street Zen cut SM Energy from a "strong-buy" rating to a "buy" rating in a report on Sunday. Susquehanna upped their target price on shares of SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial reduced their target price on shares of SM Energy from $55.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.93.

SM Energy Trading Up 0.6%

The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. The business's 50-day moving average price is $31.43 and its two-hundred day moving average price is $29.66. The company has a market capitalization of $9.10 billion, a P/E ratio of 7.56 and a beta of 0.73.

SM Energy (NYSE:SM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.23. The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The company's revenue was up 215.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.50 earnings per share. As a group, analysts forecast that SM Energy Company will post 7.45 EPS for the current fiscal year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, September 4th. SM Energy's payout ratio is currently 17.32%.

Insider Transactions at SM Energy

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of SM Energy stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $37.02, for a total value of $647,850.00. Following the sale, the executive vice president owned 14,705 shares of the company's stock, valued at $544,379.10. This trade represents a 54.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.45% of the company's stock.

Institutional Investors Weigh In On SM Energy

Several institutional investors have recently bought and sold shares of the company. Torren Management LLC raised its holdings in shares of SM Energy by 4,561.1% in the first quarter. Torren Management LLC now owns 839 shares of the energy company's stock valued at $26,000 after purchasing an additional 821 shares during the last quarter. Center for Financial Planning Inc. bought a new position in SM Energy in the first quarter valued at $31,000. Valued Wealth Advisors LLC acquired a new stake in SM Energy in the 1st quarter valued at $33,000. Kilter Group LLC acquired a new stake in SM Energy in the 2nd quarter valued at $28,000. Finally, Assetmark Inc. bought a new stake in SM Energy during the 1st quarter worth about $35,000. Institutional investors own 94.56% of the company's stock.

About SM Energy

SM Energy Company NYSE: SM is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy's operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company's core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.

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