SM Energy (NYSE:SM) Stock Price Down 4.9% - What's Next?

Key Points

• SM Energy's stock price decreased by 4.9% to $23.13, significantly below its average trading volume, which was down by 79% during the session.
• Analysts have mixed ratings on SM Energy; the stock has a consensus target price of $40.09, with ratings ranging from "Strong Buy" to "Sell."
• The company announced a quarterly dividend of $0.20 per share, reflecting a yield of 3.5% and an annualized dividend of $0.80.

SM Energy Company (NYSE:SM - Get Free Report)'s share price fell 4.9% during mid-day trading on Friday . The company traded as low as $23.11 and last traded at $23.13. 478,670 shares were traded during trading, a decline of 79% from the average session volume of 2,230,527 shares. The stock had previously closed at $24.33.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SM shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of SM Energy in a research note on Wednesday. Susquehanna increased their price target on SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Raymond James Financial lowered SM Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, June 24th. Royal Bank Of Canada raised their target price on shares of SM Energy from $34.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday. Finally, Mizuho set a $38.00 price objective on shares of SM Energy in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $40.09.

SM Energy Stock Down 6.5%

The firm's 50-day moving average price is $26.69 and its two-hundred day moving average price is $25.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $2.61 billion, a PE ratio of 3.20 and a beta of 2.30.

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

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.80 annualized dividend and a yield of 3.5%. SM Energy's payout ratio is 11.30%.

Hedge Funds Weigh In On SM Energy

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of SM Energy by 69.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company's stock valued at $30,000 after acquiring an additional 417 shares during the period. Brooklyn Investment Group increased its holdings in shares of SM Energy by 1,097.9% in the first quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company's stock valued at $34,000 after purchasing an additional 1,043 shares during the period. Byrne Asset Management LLC increased its stake in SM Energy by 172.8% in the 1st quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock valued at $44,000 after buying an additional 933 shares during the period. Flaharty Asset Management LLC acquired a new position in SM Energy in the 1st quarter valued at $45,000. Finally, Harbor Capital Advisors Inc. increased its stake in SM Energy by 80.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock valued at $46,000 after buying an additional 679 shares during the period. 94.56% of the stock is owned by institutional investors and hedge funds.

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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