SM Energy Company (NYSE:SM – Get Free Report)’s share price shot up 6.9% during mid-day trading on Tuesday . The stock traded as high as $28.19 and last traded at $28.1750. Approximately 3,014,697 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 5,644,954 shares. The stock had previously closed at $26.35.
Analyst Ratings Changes
SM has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of SM Energy from $26.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, April 2nd. Truist Financial dropped their price objective on shares of SM Energy from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday. Susquehanna boosted their price objective on shares of SM Energy from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Wall Street Zen raised shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Raymond James Financial upgraded shares of SM Energy from an “underperform” rating to an “outperform” rating and set a $55.00 target price for the company in a research note on Wednesday, May 20th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.
Read Our Latest Report on SM Energy
SM Energy Stock Performance
SM Energy (NYSE:SM – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 75.0% compared to the same quarter last year. As a group, equities analysts predict that SM Energy Company will post 7.18 EPS for the current year.
SM Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 3.1%. SM Energy’s payout ratio is currently 36.97%.
Insider Buying and Selling
In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the sale, the director directly owned 65,964 shares in the company, valued at $2,241,456.72. This represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On SM Energy
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of SM Energy by 79.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock worth $311,678,000 after purchasing an additional 4,426,751 shares in the last quarter. State Street Corp grew its stake in SM Energy by 1.7% during the fourth quarter. State Street Corp now owns 6,257,360 shares of the energy company’s stock worth $118,267,000 after buying an additional 107,295 shares during the last quarter. Millennium Management LLC grew its stake in SM Energy by 205.1% during the fourth quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock worth $53,028,000 after buying an additional 1,906,255 shares during the last quarter. Geode Capital Management LLC grew its stake in SM Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 2,721,147 shares of the energy company’s stock worth $50,897,000 after buying an additional 56,187 shares during the last quarter. Finally, Woodline Partners LP increased its holdings in shares of SM Energy by 198.9% during the third quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company’s stock worth $60,665,000 after buying an additional 1,616,822 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.
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.
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