SM Energy (NYSE:SM) Shares Up 5.3% - Time to Buy?

Key Points

• SM Energy shares rose 5.3% to about $38.06 in mid-day trading, bringing the stock near analysts’ consensus price target of $37.93.
• Analyst sentiment is favorable, with one Strong Buy, ten Buy, and five Hold ratings; the consensus rating is Moderate Buy, while price targets range up to $41.
• The company reported strong quarterly results, including EPS of $2.19 versus $1.96 expected and revenue of $2.50 billion, up 215.3% year over year. Institutional investors own 94.56% of the stock.

SM Energy Company (NYSE:SM - Get Free Report)'s stock price traded up 5.3% during mid-day trading on Thursday . The company traded as high as $38.00 and last traded at $38.0580. 431,095 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 5,244,682 shares. The stock had previously closed at $36.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SM shares. Roth Capital upgraded SM Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $30.00 to $32.00 in a research note on Monday, June 22nd. Wall Street Zen upgraded SM Energy from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Susquehanna boosted their target price on shares of SM Energy from $31.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Siebert Williams Shank raised shares of SM Energy from a "hold" rating to a "buy" rating and increased their price target for the company from $30.00 to $41.00 in a research report on Thursday, May 14th. Finally, UBS Group assumed coverage on shares of SM Energy in a research report on Tuesday, July 14th. They set a "buy" rating and a $36.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $37.93.

SM Energy Trading Up 5.2%

The company has a 50 day moving average of $29.93 and a two-hundred day moving average of $28.61. The stock has a market capitalization of $9.04 billion, a PE ratio of 7.48 and a beta of 0.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62.

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.23. The company 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 firm's revenue was up 215.3% compared to the same quarter last year. During the same period last year, the business posted $1.50 earnings per share. Sell-side analysts predict that SM Energy Company will post 7.1 EPS for the current year.

Hedge Funds Weigh In On SM Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in SM Energy by 27.7% in the 1st quarter. Royal Bank of Canada now owns 91,916 shares of the energy company's stock worth $2,753,000 after purchasing an additional 19,965 shares in the last quarter. AQR Capital Management LLC increased its stake in SM Energy by 43.9% during the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company's stock valued at $4,370,000 after purchasing an additional 44,542 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of SM Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company's stock worth $2,040,000 after buying an additional 2,969 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of SM Energy by 44.9% in the first quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company's stock worth $97,000 after buying an additional 1,007 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of SM Energy during the first quarter worth $222,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source