SM Energy (NYSE:SM) Trading Up 5.3% – Here’s Why

SM Energy Company (NYSE:SM)’s stock price traded up 5.3% on Thursday . The stock traded as high as $38.00 and last traded at $38.0580. Approximately 431,095 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 5,244,682 shares. The stock had previously closed at $36.14.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SM. Zacks Research cut SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Mizuho upgraded shares of SM Energy to a “strong-buy” rating in a research note on Friday, July 31st. Stephens reduced their price target on shares of SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Siebert Williams Shank raised shares of SM Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $41.00 in a report on Thursday, May 14th. Finally, Susquehanna upped their price objective on shares of SM Energy from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, SM Energy currently has a consensus rating of “Moderate Buy” and an average target price of $37.93.

SM Energy Trading Down 0.8%

The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 7.35 and a beta of 0.73. 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 firm’s fifty day moving average is $30.18 and its 200-day moving average is $28.80.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, topping the consensus estimate 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 firm’s revenue was up 215.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. Equities analysts anticipate that SM Energy Company will post 7.36 earnings per share for the current year.

Institutional Trading of SM Energy

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in SM Energy by 3.8% during the second quarter. GAMMA Investing LLC now owns 10,108 shares of the energy company’s stock worth $264,000 after acquiring an additional 371 shares in the last quarter. Quad Cities Investment Group LLC increased its stake in SM Energy by 2.8% in the second quarter. Quad Cities Investment Group LLC now owns 13,777 shares of the energy company’s stock valued at $360,000 after purchasing an additional 375 shares in the last quarter. Summit Global Investments increased its stake in SM Energy by 1.1% in the fourth quarter. Summit Global Investments now owns 46,417 shares of the energy company’s stock valued at $868,000 after purchasing an additional 489 shares in the last quarter. State of Wyoming raised its holdings in shares of SM Energy by 22.2% during the fourth quarter. State of Wyoming now owns 2,748 shares of the energy company’s stock valued at $51,000 after purchasing an additional 499 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after purchasing an additional 535 shares during the period. Institutional investors own 94.56% of the company’s stock.

About SM Energy

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.