Insider Selling: SM Energy (NYSE:SM) Director Sells $834,310.94 in Stock

SM Energy Company (NYSE:SMGet Free Report) Director Ramiro Peru sold 24,553 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the sale, the director owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This trade represents a 27.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

SM Energy Stock Performance

NYSE SM opened at $33.80 on Monday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $35.88. The company has a 50-day simple moving average of $29.89 and a 200 day simple moving average of $23.46. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $8.10 billion, a PE ratio of 14.20 and a beta of 0.73.

SM Energy (NYSE:SMGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 earnings per share (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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company posted $1.76 earnings per share. The firm’s quarterly revenue was up 75.0% compared to the same quarter last year. On average, research analysts predict that SM Energy Company will post 7.47 EPS for the current year.

Hedge Funds Weigh In On SM Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lighthouse Investment Partners LLC bought a new position in SM Energy during the third quarter worth about $4,619,000. Dynamic Technology Lab Private Ltd bought a new position in shares of SM Energy in the third quarter valued at approximately $1,190,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of SM Energy by 135.2% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 254,766 shares of the energy company’s stock valued at $6,362,000 after acquiring an additional 146,444 shares during the period. Kennedy Capital Management LLC boosted its position in shares of SM Energy by 70.6% in the third quarter. Kennedy Capital Management LLC now owns 574,107 shares of the energy company’s stock valued at $14,335,000 after acquiring an additional 237,537 shares during the period. Finally, Royce & Associates LP boosted its position in shares of SM Energy by 22.6% in the third quarter. Royce & Associates LP now owns 356,608 shares of the energy company’s stock valued at $8,905,000 after acquiring an additional 65,732 shares during the period. Institutional investors own 94.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SM shares. TD Cowen decreased their price objective on shares of SM Energy from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Truist Financial raised their price objective on shares of SM Energy from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Stephens raised their price objective on shares of SM Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. KeyCorp raised their price objective on shares of SM Energy from $29.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, SM Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.79.

Check Out Our Latest Report on SM Energy

About SM Energy

(Get Free Report)

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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