SM Energy (NYSE:SM) Issues Earnings Results, Beats Expectations By $0.13 EPS

SM Energy (NYSE:SM) posted its quarterly earnings data on Thursday. The energy company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.13, Morningstar.com reports. SM Energy had a net margin of 0.82% and a negative return on equity of 1.52%. The company had revenue of $407.17 million for the quarter, compared to analyst estimates of $407.53 million. During the same period in the prior year, the company posted $0.15 EPS.

Shares of NYSE:SM traded up $0.94 during trading on Friday, reaching $10.00. 6,842,595 shares of the company were exchanged, compared to its average volume of 4,412,780. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $10.82. SM Energy has a 12-month low of $8.51 and a 12-month high of $33.76. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 333.33 and a beta of 2.97.

A number of analysts recently weighed in on SM shares. Susquehanna Bancshares set a $13.00 price objective on shares of SM Energy and gave the stock a “hold” rating in a research report on Wednesday, June 19th. KeyCorp started coverage on shares of SM Energy in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. ValuEngine raised shares of SM Energy from a “sell” rating to a “hold” rating in a research report on Thursday. TheStreet lowered shares of SM Energy from a “c” rating to a “d+” rating in a research report on Thursday, May 16th. Finally, Barclays lowered shares of SM Energy from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $18.00 to $13.00 in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.83.

In other SM Energy news, EVP David W. Copeland acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $12.71 per share, for a total transaction of $127,100.00. Following the completion of the purchase, the executive vice president now owns 106,454 shares in the company, valued at $1,353,030.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Javan D. Ottoson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $14.63 per share, for a total transaction of $73,150.00. Following the completion of the purchase, the chief executive officer now owns 182,126 shares of the company’s stock, valued at approximately $2,664,503.38. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 17,000 shares of company stock worth $225,070. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of SM Energy by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,716,900 shares of the energy company’s stock valued at $134,938,000 after purchasing an additional 631,315 shares in the last quarter. Oslo Asset Management AS boosted its stake in shares of SM Energy by 18.8% during the second quarter. Oslo Asset Management AS now owns 2,956,528 shares of the energy company’s stock valued at $37,016,000 after purchasing an additional 467,185 shares in the last quarter. Norges Bank bought a new position in shares of SM Energy during the fourth quarter valued at approximately $21,558,000. Geode Capital Management LLC boosted its stake in shares of SM Energy by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,028,604 shares of the energy company’s stock valued at $15,922,000 after purchasing an additional 54,539 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of SM Energy by 18.5% during the second quarter. First Trust Advisors LP now owns 759,209 shares of the energy company’s stock valued at $9,505,000 after purchasing an additional 118,763 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.

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Earnings History for SM Energy (NYSE:SM)

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