SM Energy (NYSE:SM) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• SM Energy shares crossed above their 200-day moving average, reaching $31.16 and last trading near $31.12, compared with the average of $30.74. The shares remained below their 50-day average of $36.36.
• Quarterly earnings were mixed: EPS of $1.95 missed the $2.01 consensus, while revenue of $2.16 billion topped estimates and rose 167.2% year over year.
• Analyst sentiment is moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $39.82; recent opinions ranged from Sell to Overweight.

SM Energy Company (NYSE:SM - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $30.74 and traded as high as $31.16. SM Energy shares last traded at $31.1180, with a volume of 3,568,477 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SM shares. Weiss Ratings lowered shares of SM Energy from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday. KeyCorp upped their price objective on shares of SM Energy from $39.00 to $46.00 and gave the company an "overweight" rating in a report on Tuesday, September 15th. Stifel Nicolaus started coverage on shares of SM Energy in a research note on Wednesday, September 9th. They issued a "hold" rating and a $42.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of SM Energy from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, November 5th. Finally, Seaport Research Partners assumed coverage on shares of SM Energy in a report on Thursday, September 3rd. They set a "sell" rating and a $35.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $39.82.

SM Energy Stock Performance

The business's 50-day simple moving average is $36.36 and its two-hundred day simple moving average is $30.74. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 7.55 and a beta of 0.80.

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

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 7th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. SM Energy's dividend payout ratio is presently 21.36%.

Insider Buying and Selling

In other news, EVP James Barker Lebeck sold 17,500 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $37.02, for a total value of $647,850.00. Following the transaction, the executive vice president owned 14,705 shares in the company, valued at $544,379.10. This trade represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ashwin Venkatraman sold 3,650 shares of SM Energy stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the completion of the sale, the director directly owned 12,525 shares in the company, valued at $479,457. This represents a 22.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in SM Energy during the 3rd quarter worth $1,416,000. GW&K Investment Management LLC acquired a new position in SM Energy during the third quarter worth about $3,279,000. Private Advisor Group LLC purchased a new stake in SM Energy during the 3rd quarter valued at about $306,000. Ieq Capital LLC purchased a new stake in SM Energy during the 3rd quarter valued at about $2,250,000. Finally, Focus Advisor Solutions LLC purchased a new stake in SM Energy during the 3rd quarter valued at about $200,000. 94.56% of the stock is owned by institutional investors and hedge funds.

About SM Energy

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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