Other equities research analysts also recently issued reports about the company. Deutsche Bank AG decreased their price objective on SM Energy Company from $39.00 to $36.00 and set a hold rating for the company in a report on Tuesday, March 7th. Royal Bank of Canada reissued a hold rating and issued a $38.00 price objective on shares of SM Energy Company in a report on Friday, March 31st. Piper Jaffray Companies decreased their price objective on SM Energy Company from $48.00 to $44.00 and set an overweight rating for the company in a report on Wednesday, February 1st. Wolfe Research raised SM Energy Company from a market perform rating to an outperform rating in a report on Wednesday, February 1st. Finally, Bank of America Corporation downgraded SM Energy Company from a buy rating to a neutral rating and decreased their price objective for the company from $48.00 to $37.00 in a report on Thursday, May 11th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. SM Energy Company has an average rating of Buy and an average price target of $39.42.
Shares of SM Energy Company (SM) traded down 2.56% during midday trading on Tuesday, reaching $15.60. 6,475,350 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $19.57 and its 200-day moving average is $26.41. SM Energy Company has a 12-month low of $15.29 and a 12-month high of $43.09. The stock’s market cap is $1.74 billion.
SM Energy Company (NYSE:SM) last announced its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.54. The firm had revenue of $372.74 million during the quarter, compared to the consensus estimate of $309.43 million. SM Energy Company had a negative return on equity of 3.28% and a negative net margin of 23.23%. On average, equities analysts expect that SM Energy Company will post ($0.81) EPS for the current year.
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In other news, EVP Herbert S. Vogel acquired 3,000 shares of SM Energy Company stock in a transaction dated Thursday, June 8th. The shares were acquired at an average cost of $16.60 per share, with a total value of $49,800.00. Following the purchase, the executive vice president now directly owns 32,637 shares of the company’s stock, valued at approximately $541,774.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Javan D. Ottoson acquired 2,000 shares of SM Energy Company stock in a transaction dated Thursday, June 8th. The stock was purchased at an average cost of $16.44 per share, for a total transaction of $32,880.00. Following the completion of the purchase, the chief executive officer now directly owns 143,302 shares in the company, valued at $2,355,884.88. The disclosure for this purchase can be found here. 0.89% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in SM Energy Company by 16.2% in the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock valued at $210,889,000 after buying an additional 1,226,564 shares in the last quarter. Capital Research Global Investors increased its stake in shares of SM Energy Company by 0.5% in the third quarter. Capital Research Global Investors now owns 7,245,940 shares of the energy company’s stock valued at $279,548,000 after buying an additional 37,000 shares during the last quarter. Causeway Capital Management LLC increased its stake in shares of SM Energy Company by 230.1% in the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock valued at $189,801,000 after buying an additional 4,816,230 shares during the last quarter. State Street Corp increased its stake in shares of SM Energy Company by 15.7% in the first quarter. State Street Corp now owns 4,415,234 shares of the energy company’s stock valued at $106,054,000 after buying an additional 600,265 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of SM Energy Company by 33.1% in the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock valued at $95,926,000 after buying an additional 994,186 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.
About SM Energy Company
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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