SM Energy (NYSE:SM) Reaches New 12-Month High – Here’s What Happened

Shares of SM Energy Company (NYSE:SM) reached a new 52-week high on Monday . The stock traded as high as $39.00 and last traded at $39.1410, with a volume of 24558 shares traded. The stock had previously closed at $38.10.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SM shares. Zacks Research lowered SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Truist Financial raised their price objective on shares of SM Energy from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Mizuho raised shares of SM Energy to a “strong-buy” rating in a research report on Friday, July 31st. Raymond James Financial cut their price target on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Finally, Stifel Nicolaus started coverage on SM Energy in a research report on Wednesday. They issued a “hold” rating and a $42.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.19.

SM Energy Price Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 7.68 and a beta of 0.75. The business’s 50-day simple moving average is $33.23 and its two-hundred day simple moving average is $30.52.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The business’s revenue for the quarter was up 215.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 EPS. Research analysts expect that SM Energy Company will post 7.48 earnings per share for the current year.

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. SM Energy’s payout ratio is currently 17.32%.

Insider Transactions at SM Energy

In other news, Director Ashwin Venkatraman sold 3,650 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the completion of the sale, the director owned 12,525 shares of the company’s stock, valued at approximately $479,457. This represents a 22.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Barker Lebeck sold 17,500 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the sale, the executive vice president directly owned 14,705 shares of the company’s stock, valued at $544,379.10. This represents a 54.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On SM Energy

Institutional investors have recently added to or reduced their stakes in the business. Torren Management LLC grew its position in shares of SM Energy by 4,561.1% during the 1st quarter. Torren Management LLC now owns 839 shares of the energy company’s stock worth $26,000 after buying an additional 821 shares during the period. Global Retirement Partners LLC boosted its stake in SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock worth $26,000 after acquiring an additional 535 shares in the last quarter. Kilter Group LLC bought a new position in SM Energy during the second quarter worth $28,000. Center for Financial Planning Inc. acquired a new stake in SM Energy in the first quarter worth $31,000. Finally, Johnson Financial Group Inc. acquired a new stake in SM Energy in the third quarter worth $31,000. 94.56% of the stock is owned by institutional investors and hedge funds.

About SM Energy

SM Energy Company (NYSE: SM) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. Its operations focus on acquiring and developing oil and gas properties and producing hydrocarbons from onshore assets in the United States.

The company’s principal operations are concentrated in the Permian Basin of West Texas and the South Texas region. SM Energy has also expanded its U.S. operating portfolio through acquisitions, including assets in Utah’s Uinta Basin.