SM Energy (NYSE:SM) Shares Gap Up - Here's What Happened

Key Points

• SM Energy shares gapped up from $20.53 to $21.82 before trading at $22.03, with a total volume of 356,510 shares.
• Analysts have issued mixed ratings, with Zacks downgrading the stock to a "strong sell", while Royal Bank of Canada raised its price target to $35.00.
• The company reported quarterly earnings of $1.50 per share, exceeding expectations, and announced a $0.20 quarterly dividend, representing an annualized yield of 3.6%.

SM Energy Company (NYSE:SM - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $20.53, but opened at $21.82. SM Energy shares last traded at $22.03, with a volume of 356,510 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SM shares. Zacks Research downgraded SM Energy from a "hold" rating to a "strong sell" rating in a report on Friday, October 3rd. Wells Fargo & Company decreased their price target on SM Energy from $30.00 to $23.00 and set an "equal weight" rating for the company in a research note on Friday, October 17th. Susquehanna cut their price objective on SM Energy to $27.00 and set a "neutral" rating for the company in a research report on Monday. Mizuho set a $38.00 price objective on SM Energy in a research report on Friday, October 10th. Finally, Royal Bank Of Canada lifted their price target on SM Energy from $34.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $37.50.

SM Energy Stock Performance

The company has a market cap of $2.54 billion, a P/E ratio of 3.13 and a beta of 2.30. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $25.82 and a 200-day moving average price of $25.27.

SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The energy company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.27. The business had revenue of $792.94 million for the quarter, compared to analyst estimates of $792.58 million. SM Energy had a return on equity of 18.06% and a net margin of 25.94%.SM Energy's quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. On average, equities analysts expect that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 17th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, October 17th. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. SM Energy's payout ratio is currently 11.30%.

Institutional Investors Weigh In On SM Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS lifted its holdings in SM Energy by 16.4% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 41,900 shares of the energy company's stock worth $1,046,000 after buying an additional 5,900 shares during the period. Diversified Trust Co lifted its holdings in SM Energy by 13.3% during the 3rd quarter. Diversified Trust Co now owns 33,089 shares of the energy company's stock worth $826,000 after buying an additional 3,880 shares during the period. Collar Capital Management LLC lifted its holdings in SM Energy by 4.0% during the 3rd quarter. Collar Capital Management LLC now owns 81,347 shares of the energy company's stock worth $2,031,000 after buying an additional 3,166 shares during the period. Inspire Investing LLC lifted its holdings in SM Energy by 15.6% during the 3rd quarter. Inspire Investing LLC now owns 21,994 shares of the energy company's stock worth $549,000 after buying an additional 2,960 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in SM Energy by 36.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,010 shares of the energy company's stock worth $50,000 after buying an additional 535 shares during the period. Institutional investors own 94.56% of the company's stock.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.

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