Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Co downgraded shares of SM Energy from an “outperform” rating to a “market perform” rating and set a $23.00 target price for the company. in a research note on Monday, July 8th. Capital One Financial upgraded shares of SM Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Raymond James cut their price objective on shares of SM Energy from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. B. Riley set a $14.00 price objective on shares of SM Energy and gave the stock a “hold” rating in a research report on Wednesday, June 19th. Finally, Jefferies Financial Group initiated coverage on shares of SM Energy in a research report on Monday, July 29th. They set a “hold” rating and a $10.00 price objective for the company. 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 company currently has an average rating of “Hold” and a consensus price target of $21.83.
NYSE:SM traded up $0.94 during mid-day trading on Thursday, hitting $10.00. The stock had a trading volume of 6,842,595 shares, compared to its average volume of 4,696,022. SM Energy has a twelve month low of $8.51 and a twelve month high of $33.76. The firm has a market cap of $1.02 billion, a PE ratio of 333.33 and a beta of 2.97. The stock has a 50 day simple moving average of $10.82. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41.
In other SM Energy news, CEO Javan D. Ottoson bought 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were bought at an average cost of $14.63 per share, with a total value of $73,150.00. Following the completion of the acquisition, the chief executive officer now owns 182,126 shares of the company’s stock, valued at $2,664,503.38. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David W. Copeland bought 10,000 shares of the stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $12.71 per share, for a total transaction of $127,100.00. Following the completion of the acquisition, the executive vice president now directly owns 106,454 shares of the company’s stock, valued at approximately $1,353,030.34. The disclosure for this purchase can be found here. Insiders have bought 17,000 shares of company stock worth $225,070 over the last ninety days. Insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Stevens Capital Management LP bought a new position in SM Energy in the first quarter valued at approximately $626,000. Norges Bank bought a new position in SM Energy in the fourth quarter valued at approximately $21,558,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in SM Energy in the first quarter valued at approximately $453,000. Geode Capital Management LLC increased its stake in SM Energy by 5.6% in 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 acquiring an additional 54,539 shares during the last quarter. Finally, Dupont Capital Management Corp increased its stake in SM Energy by 35.4% in the first quarter. Dupont Capital Management Corp now owns 11,849 shares of the energy company’s stock valued at $207,000 after acquiring an additional 3,100 shares during the last quarter. 98.89% of the stock is currently owned by institutional investors.
About SM Energy
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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