SM Energy (NYSE:SM) Stock Bumped Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of SM Energy (NYSE:SM) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

Other equities analysts have also recently issued research reports about the company. KeyCorp raised their target price on SM Energy from $39.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Stephens lowered their price target on SM Energy from $61.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Weiss Ratings upgraded shares of SM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Mizuho set a $39.00 price objective on shares of SM Energy in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of SM Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Two equities research analysts have 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.81.

SM Energy Stock Performance

Shares of SM Energy stock opened at $37.14 on Wednesday. The firm has a fifty day moving average of $35.22 and a two-hundred day moving average of $31.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 7.31 and a beta of 0.95. SM Energy has a 52 week low of $17.45 and a 52 week high of $41.56.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company earned $1.50 EPS. The firm’s revenue was up 215.3% on a year-over-year basis. As a group, equities research analysts predict that SM Energy will post 7.55 EPS for the current year.

SM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 7th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, September 4th. SM Energy’s payout ratio is presently 17.32%.

Insider Activity at SM Energy

In related news, Director Ashwin Venkatraman sold 3,650 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $38.28, for a total transaction of $139,722.00. Following the completion of the sale, the director directly owned 12,525 shares of the company’s stock, valued at approximately $479,457. This represents a 22.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Barker Lebeck sold 17,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $37.02, for a total transaction of $647,850.00. Following the sale, the executive vice president owned 14,705 shares in the company, valued at approximately $544,379.10. The trade was a 54.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SM Energy

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of SM Energy by 112.1% in the 1st quarter. Royal Bank of Canada now owns 94,115 shares of the energy company’s stock valued at $2,935,000 after buying an additional 49,740 shares in the last quarter. GSA Capital Partners LLP bought a new position in SM Energy in the second quarter valued at approximately $2,243,000. Readystate Asset Management LP raised its position in SM Energy by 293.3% during the second quarter. Readystate Asset Management LP now owns 222,880 shares of the energy company’s stock valued at $5,817,000 after purchasing an additional 166,208 shares in the last quarter. Leeward Investments LLC MA acquired a new position in shares of SM Energy during the 1st quarter worth $13,299,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of SM Energy during the 1st quarter worth $1,053,000. 94.56% of the stock is owned by institutional investors.

SM Energy Company Profile

SM Energy Company is an independent energy company engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. Its operations focus on onshore properties in the United States, with activities concentrated in major producing regions such as the Permian Basin in West Texas and the South Texas Eagle Ford.

The company’s products include crude oil, natural gas, and natural gas liquids, which it sells to energy marketers, midstream companies, and other purchasers.