SM Energy Company (NYSE:SM – Get Free Report) was down 4.8% on Thursday . The company traded as low as $31.31 and last traded at $31.2630. Approximately 2,691,267 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 5,840,070 shares. The stock had previously closed at $32.83.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on SM shares. Siebert Williams Shank upgraded shares of SM Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $41.00 in a research report on Thursday, May 14th. Roth Mkm reiterated a “neutral” rating and issued a $33.00 price target (up from $24.00) on shares of SM Energy in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upgraded shares of SM Energy from a “neutral” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Friday, March 20th. Wall Street Zen upgraded 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 report on Wednesday, May 20th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SM Energy presently has a consensus rating of “Moderate Buy” and an average target price of $37.07.
Check Out Our Latest Stock Report on SM Energy
SM Energy Stock Performance
SM Energy (NYSE:SM – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.42. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The company’s revenue for the quarter was up 75.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 earnings per share. On average, analysts predict that SM Energy Company will post 7.3 EPS for the current fiscal year.
SM Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 2.8%. SM Energy’s payout ratio is presently 36.97%.
Insider Transactions at SM Energy
In related news, Director Ramiro G. Peru sold 24,553 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $33.98, for a total value of $834,310.94. Following the transaction, the director owned 65,964 shares in the company, valued at $2,241,456.72. The trade was a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is currently owned by insiders.
Hedge Funds Weigh In On SM Energy
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cozad Asset Management Inc. bought a new stake in SM Energy in the first quarter valued at $2,633,000. Glenmede Trust Co. NA grew its holdings in shares of SM Energy by 32.8% during the first quarter. Glenmede Trust Co. NA now owns 597,420 shares of the energy company’s stock valued at $18,628,000 after buying an additional 147,569 shares during the last quarter. Ruggaard & Associates LLC acquired a new position in shares of SM Energy during the first quarter valued at about $262,000. Segall Bryant & Hamill LLC grew its holdings in shares of SM Energy by 57.8% during the first quarter. Segall Bryant & Hamill LLC now owns 223,193 shares of the energy company’s stock valued at $6,959,000 after buying an additional 81,754 shares during the last quarter. Finally, Cim Investment Management Inc. purchased a new position in SM Energy during the first quarter worth about $223,000. Institutional investors and hedge funds own 94.56% of the company’s stock.
About SM Energy
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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