SM Energy (NYSE:SM) Trading Down 9.2%

SM Energy (NYSE:SMGet Rating) fell 9.2% during trading on Friday . The company traded as low as $35.66 and last traded at $36.09. 22,261 shares were traded during trading, a decline of 98% from the average session volume of 1,283,442 shares. The stock had previously closed at $39.76.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SM. KeyCorp started coverage on SM Energy in a report on Monday. They set an “overweight” rating and a $64.00 price objective on the stock. MKM Partners reiterated a “buy” rating and set a $54.00 price objective on shares of SM Energy in a research report on Wednesday, July 20th. Finally, Barclays raised their price target on SM Energy from $40.00 to $55.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.22.

SM Energy Stock Down 10.3 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $4.37 billion, a PE ratio of 5.08 and a beta of 4.84. The business has a fifty day moving average of $41.06 and a 200-day moving average of $40.09.

SM Energy Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, October 24th. This represents a yield of 0.7%. This is a positive change from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s dividend payout ratio is currently 0.28%.

Insider Activity

In related news, CAO Patrick A. Lytle sold 8,658 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $45.61, for a total value of $394,891.38. Following the transaction, the chief accounting officer now directly owns 12,463 shares of the company’s stock, valued at approximately $568,437.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP David W. Copeland sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $46.23, for a total value of $462,300.00. Following the transaction, the executive vice president now directly owns 228,543 shares of the company’s stock, valued at approximately $10,565,542.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Patrick A. Lytle sold 8,658 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $45.61, for a total transaction of $394,891.38. Following the completion of the transaction, the chief accounting officer now directly owns 12,463 shares in the company, valued at $568,437.43. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Trading of SM Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System grew its stake in shares of SM Energy by 0.6% in the first quarter. Maryland State Retirement & Pension System now owns 48,711 shares of the energy company’s stock worth $1,897,000 after acquiring an additional 284 shares in the last quarter. Congress Asset Management Co. MA lifted its position in SM Energy by 0.3% in the second quarter. Congress Asset Management Co. MA now owns 90,195 shares of the energy company’s stock valued at $3,084,000 after acquiring an additional 296 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of SM Energy by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the energy company’s stock valued at $2,382,000 after buying an additional 300 shares during the last quarter. Eaton Vance Management raised its holdings in shares of SM Energy by 3.8% in the first quarter. Eaton Vance Management now owns 8,361 shares of the energy company’s stock valued at $326,000 after buying an additional 309 shares during the last quarter. Finally, Advisor Partners LLC raised its holdings in shares of SM Energy by 4.7% in the first quarter. Advisor Partners LLC now owns 8,341 shares of the energy company’s stock valued at $325,000 after buying an additional 372 shares during the last quarter. Institutional investors and hedge funds own 90.53% of the company’s stock.

About SM Energy

(Get Rating)

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 February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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