SM Energy (NYSE:SM) Stock Price Down 4.9%

SM Energy (NYSE:SM)’s share price dropped 4.9% during trading on Thursday . The company traded as low as $18.76 and last traded at $18.76. Approximately 18,134 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 2,934,706 shares. The stock had previously closed at $19.73.

Several equities analysts recently weighed in on SM shares. Royal Bank of Canada downgraded SM Energy from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $18.00 to $27.00 in a research report on Thursday, June 10th. They noted that the move was a valuation call. Barclays boosted their price objective on SM Energy from $5.00 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, June 3rd. KeyCorp raised their target price on shares of SM Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, April 9th. Wells Fargo & Company lifted their price target on shares of SM Energy from $25.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 7th. Finally, Stifel Nicolaus increased their price objective on shares of SM Energy from $19.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.63.

The firm has a 50-day simple moving average of $21.58. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.30 and a current ratio of 0.30.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Thursday, April 29th. The energy company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.18. The business had revenue of $443.85 million for the quarter, compared to analysts’ expectations of $339.38 million. SM Energy had a negative net margin of 49.72% and a negative return on equity of 1.25%. As a group, equities analysts forecast that SM Energy will post -0.24 earnings per share for the current fiscal year.

In other news, SVP Kenneth J. Knott sold 12,257 shares of the company’s stock in a transaction that occurred on Wednesday, June 23rd. The stock was sold at an average price of $25.00, for a total transaction of $306,425.00. Following the sale, the senior vice president now directly owns 60,930 shares of the company’s stock, valued at approximately $1,523,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. purchased a new position in shares of SM Energy in the 1st quarter worth approximately $47,000. Wealthcare Capital Management LLC bought a new stake in SM Energy in the first quarter worth $49,000. The PNC Financial Services Group Inc. boosted its stake in SM Energy by 146.3% during the first quarter. The PNC Financial Services Group Inc. now owns 3,286 shares of the energy company’s stock worth $53,000 after buying an additional 1,952 shares during the period. Meeder Asset Management Inc. increased its position in SM Energy by 1,401.3% during the first quarter. Meeder Asset Management Inc. now owns 3,498 shares of the energy company’s stock valued at $56,000 after acquiring an additional 3,265 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in SM Energy by 5,670.0% during the first quarter. Captrust Financial Advisors now owns 5,770 shares of the energy company’s stock valued at $94,000 after acquiring an additional 5,670 shares during the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

About SM Energy (NYSE:SM)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of December 31, 2020, it had 404.6 million barrels of oil equivalent of estimated proved reserves; and working interests in 801 gross productive oil wells and 498 gross productive gas wells in the Midland Basin and South Texas.

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