SM Energy Company (SM) Price Target Cut to $20.00

SM Energy Company (NYSE:SM) had its target price reduced by equities research analysts at Barclays PLC from $21.00 to $20.00 in a report issued on Tuesday, August 8th. The firm presently has an “overweight” rating on the energy company’s stock. Barclays PLC’s target price points to a potential upside of 44.20% from the company’s current price.

Several other research analysts have also recently weighed in on SM. Williams Capital restated a “buy” rating and set a $45.00 price target on shares of SM Energy in a report on Monday, April 17th. Royal Bank Of Canada set a $36.00 price target on shares of SM Energy and gave the stock a “hold” rating in a report on Tuesday, April 25th. Scotiabank restated an “outperform” rating and set a $5.25 price target on shares of SM Energy in a report on Thursday, May 4th. Bank of America Corporation cut shares of SM Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $48.00 to $37.00 in a report on Thursday, May 11th. Finally, Credit Suisse Group started coverage on shares of SM Energy in a report on Thursday, June 1st. They set an “outperform” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. SM Energy has a consensus rating of “Hold” and an average target price of $33.29.

Shares of SM Energy (NYSE:SM) traded up 3.74% during midday trading on Tuesday, reaching $13.87. 3,893,498 shares of the company traded hands. The company has a 50-day moving average of $16.10 and a 200 day moving average of $20.55. SM Energy has a 12-month low of $13.11 and a 12-month high of $43.09. The firm’s market capitalization is $1.55 billion.

SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). SM Energy had a negative net margin of 20.67% and a negative return on equity of 3.11%. The business had revenue of $284.94 million for the quarter, compared to analysts’ expectations of $299.12 million. During the same period in the previous year, the company earned ($0.44) earnings per share. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. On average, equities analysts forecast that SM Energy will post ($1.10) earnings per share for the current year.

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In other SM Energy news, CEO Javan D. Ottoson purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average cost of $16.44 per share, for a total transaction of $32,880.00. Following the purchase, the chief executive officer now owns 143,302 shares of the company’s stock, valued at approximately $2,355,884.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Herbert S. Vogel bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were purchased at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the acquisition, the executive vice president now directly owns 32,637 shares in the company, valued at approximately $541,774.20. The disclosure for this purchase can be found here. Corporate insiders own 0.89% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in SM Energy by 17.3% in the second quarter. Public Employees Retirement System of Ohio now owns 49,191 shares of the energy company’s stock worth $813,000 after buying an additional 7,240 shares during the period. Scotia Capital Inc. purchased a new stake in SM Energy during the second quarter worth $318,000. California State Teachers Retirement System raised its stake in SM Energy by 3.2% in the second quarter. California State Teachers Retirement System now owns 204,059 shares of the energy company’s stock worth $3,373,000 after buying an additional 6,263 shares during the period. Bank of Nova Scotia purchased a new stake in SM Energy during the second quarter worth $3,668,000. Finally, The Manufacturers Life Insurance Company raised its stake in SM Energy by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 143,814 shares of the energy company’s stock worth $2,377,000 after buying an additional 2,486 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Company Profile

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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