SM Energy Co (NYSE:SM) Short Interest Up 33.2% in June

SM Energy Co (NYSE:SM) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 12,074,000 shares, an increase of 33.2% from the May 30th total of 9,065,800 shares. Currently, 11.5% of the company’s shares are sold short. Based on an average daily volume of 3,100,000 shares, the days-to-cover ratio is currently 3.9 days.

Shares of SM traded down $0.22 during trading hours on Friday, reaching $10.82. 2,453,629 shares of the company’s stock traded hands, compared to its average volume of 4,612,145. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41. SM Energy has a twelve month low of $10.17 and a twelve month high of $33.76. The stock has a fifty day simple moving average of $11.76.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The business had revenue of $340.90 million for the quarter, compared to analyst estimates of $341.25 million. SM Energy had a net margin of 0.82% and a negative return on equity of 1.52%. SM Energy’s revenue for the quarter was down 55.7% on a year-over-year basis. During the same period last year, the business posted $0.07 earnings per share. Analysts forecast that SM Energy will post -0.2 EPS for the current fiscal year.

Several equities analysts have recently commented on the company. Wells Fargo & Co assumed coverage on Forestar Group in a research note on Monday, July 8th. They set an “outperform” rating and a $23.00 target price for the company. Cowen set a $27.00 target price on Schnitzer Steel Industries and gave the company a “hold” rating in a research note on Tuesday, April 9th. Stephens reiterated an “overweight” rating and set a $20.00 target price (down from $26.00) on shares of SM Energy in a research note on Tuesday, June 18th. KeyCorp reiterated an “overweight” rating and set a $1,316.00 target price (up from $1,210.00) on shares of Cable One in a research note on Thursday, June 27th. Finally, Susquehanna Bancshares set a $13.00 target price on SM Energy and gave the company a “hold” rating in a research note on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $25.81.

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

A number of hedge funds have recently made changes to their positions in the stock. Twin Tree Management LP acquired a new position in shares of SM Energy in the 1st quarter valued at $36,000. Private Capital Group LLC boosted its position in shares of SM Energy by 113.3% in the 1st quarter. Private Capital Group LLC now owns 2,536 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,347 shares during the period. Bessemer Group Inc. acquired a new position in shares of SM Energy in the 4th quarter valued at $75,000. Bell & Brown Wealth Advisors LLC acquired a new position in shares of SM Energy in the 4th quarter valued at $172,000. Finally, Quantamental Technologies LLC acquired a new position in shares of SM Energy in the 1st quarter valued at $199,000. 98.88% of the stock is owned by institutional investors and hedge funds.

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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