Shares of SM Energy Company (NYSE:SM) rose 6.7% on Monday . The stock traded as high as $17.97 and last traded at $17.72. Approximately 4,582,474 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 3,828,150 shares. The stock had previously closed at $16.61.
SM has been the topic of several research reports. Credit Suisse Group initiated coverage on SM Energy in a report on Thursday, June 1st. They issued an “outperform” rating and a $30.00 target price on the stock. Bank of America Corporation initiated coverage on SM Energy in a report on Wednesday, July 19th. They issued a “neutral” rating and a $20.00 target price on the stock. Zacks Investment Research lowered SM Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Royal Bank Of Canada set a $20.00 target price on SM Energy and gave the company a “hold” rating in a report on Thursday, August 24th. Finally, Williams Capital set a $40.00 target price on SM Energy and gave the company a “buy” rating in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $31.73.
SM Energy (NYSE:SM) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.32) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.32). The business had revenue of $284.94 million for the quarter, compared to analysts’ expectations of $299.12 million. SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.44) EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fondren Management LP acquired a new position in shares of SM Energy in the 2nd quarter worth $331,000. Public Employees Retirement System of Ohio grew its holdings in shares of SM Energy by 17.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 49,191 shares of the energy company’s stock worth $813,000 after acquiring an additional 7,240 shares during the last quarter. Scotia Capital Inc. acquired a new position in shares of SM Energy in the 2nd quarter worth $318,000. California State Teachers Retirement System grew its holdings in shares of SM Energy by 3.2% in the 2nd quarter. California State Teachers Retirement System now owns 204,059 shares of the energy company’s stock worth $3,373,000 after acquiring an additional 6,263 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new position in shares of SM Energy in the 2nd quarter worth $3,668,000. Institutional investors and hedge funds own 97.05% of the company’s stock.
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About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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