SM Energy (NYSE:SM) Shares Gap Down to $9.04

Shares of SM Energy Co (NYSE:SM) gapped down before the market opened on Thursday . The stock had previously closed at $8.35, but opened at $9.04. SM Energy shares last traded at $9.26, with a volume of 70,996 shares trading hands.

SM has been the subject of several research reports. Stephens reaffirmed an “overweight” rating and set a $20.00 target price (down previously from $26.00) on shares of SM Energy in a research note on Tuesday, June 18th. TheStreet lowered SM Energy from a “c” rating to a “d+” rating in a research report on Thursday, May 16th. Barclays lowered SM Energy from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $18.00 to $13.00 in a research report on Monday, July 1st. KeyCorp assumed coverage on SM Energy in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. Finally, Raymond James decreased their price target on SM Energy from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.83.

The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 304.67 and a beta of 2.97. The stock has a 50-day moving average of $10.42 and a two-hundred day moving average of $14.33.

SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.13. The business had revenue of $407.17 million during the quarter, compared to analyst estimates of $407.53 million. SM Energy had a negative return on equity of 2.07% and a net margin of 2.91%. During the same quarter last year, the company posted $0.15 EPS. Sell-side analysts expect that SM Energy Co will post -0.37 EPS for the current fiscal year.

In other SM Energy news, EVP David W. Copeland acquired 10,000 shares of SM Energy stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $12.71 per share, with a total value of $127,100.00. Following the purchase, the executive vice president now owns 106,454 shares in the company, valued at $1,353,030.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Stevens Capital Management LP purchased a new stake in SM Energy in the 1st quarter worth about $626,000. Norges Bank purchased a new stake in SM Energy in the 4th quarter worth about $21,558,000. Louisiana State Employees Retirement System lifted its stake in SM Energy by 39.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the energy company’s stock worth $417,000 after acquiring an additional 10,800 shares in the last quarter. Creative Planning purchased a new stake in SM Energy in the 2nd quarter worth about $771,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in SM Energy in the 1st quarter worth about $453,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

About SM Energy (NYSE:SM)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.

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