SunTrust Banks assumed coverage on shares of SM Energy (NYSE:SM) in a research note issued to investors on Tuesday morning, 24/7 WallStreet reports. The brokerage issued a hold rating and a $10.00 price objective on the energy company’s stock. SunTrust Banks also issued estimates for SM Energy’s Q2 2019 earnings at ($0.06) EPS, Q3 2019 earnings at ($0.08) EPS, Q4 2019 earnings at $0.07 EPS, FY2019 earnings at ($0.40) EPS, Q1 2020 earnings at $0.10 EPS, Q2 2020 earnings at $0.04 EPS, Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at $0.11 EPS, FY2020 earnings at $0.33 EPS, Q1 2021 earnings at $0.06 EPS, Q2 2021 earnings at $0.02 EPS and FY2021 earnings at $0.29 EPS.
A number of other analysts have also issued reports on SM. Wells Fargo & Co lowered SM Energy from an outperform rating to a market perform rating and set a $23.00 target price on the stock. in a research report on Monday, July 8th. Jefferies Financial Group initiated coverage on SM Energy in a research report on Monday, July 29th. They set a hold rating and a $10.00 target price on the stock. Stephens reaffirmed an overweight rating and set a $20.00 target price (down from $26.00) on shares of SM Energy in a research report on Tuesday, June 18th. B. Riley set a $14.00 target price on SM Energy and gave the stock a hold rating in a research report on Wednesday, June 19th. Finally, Capital One Financial raised SM Energy from an equal weight rating to an overweight rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $21.83.
Shares of NYSE SM opened at $10.00 on Tuesday. SM Energy has a 1 year low of $8.51 and a 1 year high of $33.76. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 333.33 and a beta of 2.98. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41. The stock’s 50-day simple moving average is $10.82.
In related news, CEO Javan D. Ottoson bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $14.63 per share, for a total transaction of $73,150.00. Following the completion of the purchase, the chief executive officer now directly owns 182,126 shares in the company, valued at approximately $2,664,503.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David W. Copeland bought 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was bought at an average price of $12.71 per share, with a total value of $127,100.00. Following the completion of the purchase, the executive vice president now owns 106,454 shares of the company’s stock, valued at $1,353,030.34. The disclosure for this purchase can be found here. Insiders purchased 17,000 shares of company stock valued at $225,070 over the last quarter. Insiders own 1.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of SM. Norges Bank acquired a new position in SM Energy in the fourth quarter valued at approximately $21,558,000. Dimensional Fund Advisors LP boosted its stake in SM Energy by 7.8% in 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 acquiring an additional 631,315 shares during the period. Oslo Asset Management AS raised its holdings 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 buying an additional 467,185 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of SM Energy during the first quarter valued at approximately $5,444,000. Finally, Two Sigma Advisers LP bought a new stake in shares of SM Energy during the fourth quarter valued at approximately $3,005,000. 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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