SM Energy (NYSE:SM) Shares Climb 5.4% - What's Next?

Key Points

• SM Energy shares rose 5.4% to about $32.84, while trading volume was 73% below the average session volume.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $39.82; recent ratings range from Buy to Hold and Sell.
• Quarterly EPS of $1.95 slightly missed estimates of $2.01, but revenue of $2.16 billion topped forecasts and increased 167.2% year over year. The company’s quarterly dividend is $0.22 per share.

SM Energy Company (NYSE:SM - Get Free Report)'s share price shot up 5.4% during trading on Thursday. The stock traded as high as $32.74 and last traded at $32.8410. 1,275,935 shares changed hands during trading, a decline of 73% from the average session volume of 4,774,797 shares. The stock had previously closed at $31.16.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho set a $39.00 price target on SM Energy in a research note on Wednesday, October 7th. UBS Group lifted their price objective on SM Energy from $36.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, September 14th. Seaport Research Partners initiated coverage on SM Energy in a report on Thursday, September 3rd. They issued a "sell" rating and a $35.00 price objective for the company. KeyCorp increased their target price on SM Energy from $39.00 to $46.00 and gave the company an "overweight" rating in a research note on Tuesday, September 15th. Finally, Zacks Research cut SM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.82.

SM Energy Trading Up 5.6%

The business's 50-day moving average price is $36.36 and its two-hundred day moving average price is $30.74. The company has a market capitalization of $7.73 billion, a P/E ratio of 7.98 and a beta of 0.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The energy company reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.06). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.04 billion. SM Energy had a net margin of 13.69% and a return on equity of 20.48%. SM Energy's quarterly revenue was up 167.2% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. As a group, analysts forecast that SM Energy Company will post 8.00 EPS for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 7th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 4th. SM Energy's payout ratio is presently 21.36%.

Insider Activity

In other 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 transaction of $647,850.00. Following the transaction, the executive vice president owned 14,705 shares in the company, valued at $544,379.10. The trade was a 54.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ashwin Venkatraman sold 3,650 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $38.28, for a total value of $139,722.00. Following the completion of the transaction, the director owned 12,525 shares of the company's stock, valued at $479,457. This represents a 22.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.45% of the stock is owned by corporate insiders.

Institutional Trading of SM Energy

Hedge funds have recently bought and sold shares of the stock. Heritage Family Offices LLP acquired a new position in shares of SM Energy in the third quarter valued at approximately $30,000. CoreCap Advisors LLC raised its holdings in shares of SM Energy by 211.2% during the third quarter. CoreCap Advisors LLC now owns 974 shares of the energy company's stock worth $33,000 after acquiring an additional 661 shares during the period. Center for Financial Planning Inc. bought a new stake in SM Energy in the 1st quarter valued at $31,000. Kilter Group LLC bought a new stake in SM Energy in the 2nd quarter valued at $28,000. Finally, Assetmark Inc. bought a new stake in SM Energy in the 1st quarter valued at $35,000. 94.56% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Company Profile

SM Energy Company is an independent oil and gas company focused on acquiring, exploring, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated in Texas, including the Midland Basin in the Permian Basin and the South Texas region. The company's business includes developing oil and gas properties and managing the infrastructure and operations needed to bring production to market. Its portfolio has evolved over time as SM Energy has made acquisitions and divested assets to focus on its core areas.

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