SM Energy (NYSE:SM – Get Rating)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $43.30, but opened at $41.35. SM Energy shares last traded at $42.90, with a volume of 16,837 shares traded.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Barclays raised their price target on SM Energy from $40.00 to $55.00 and gave the stock an "underweight" rating in a research note on Tuesday, June 14th. KeyCorp began coverage on SM Energy in a research note on Monday. They issued an "overweight" rating and a $64.00 target price on the stock. Finally, MKM Partners reiterated a "buy" rating and issued a $54.00 target price on shares of SM Energy in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, SM Energy has a consensus rating of "Moderate Buy" and an average price target of $52.22.
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SM Energy Stock Performance
The stock has a 50-day simple moving average of $40.73 and a 200-day simple moving average of $40.09. 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 $5.16 billion, a PE ratio of 5.93 and a beta of 4.84.
SM Energy Increases Dividend
The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, November 7th. Investors of record on Tuesday, October 25th will be paid a $0.15 dividend. This is a boost from SM Energy's previous Semi-Annual dividend of $0.01. The ex-dividend date is Monday, October 24th. This represents a dividend yield of 0.7%. SM Energy's payout ratio is 0.28%.
Insider Buying and Selling at SM Energy
In other SM Energy news, CAO Patrick A. Lytle sold 8,658 shares of the company's stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $45.61, for a total transaction of $394,891.38. Following the sale, the chief accounting officer now owns 12,463 shares in the company, valued at $568,437.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP David W. Copeland sold 10,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $46.23, for a total transaction of $462,300.00. Following the sale, the executive vice president now directly owns 228,543 shares in the company, valued at approximately $10,565,542.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Patrick A. Lytle sold 8,658 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 12,463 shares in the company, valued at $568,437.43. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Institutional Trading of SM Energy
Institutional investors and hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its stake in SM Energy by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 48,711 shares of the energy company's stock valued at $1,897,000 after purchasing an additional 284 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in shares of SM Energy by 0.3% during the second quarter. Congress Asset Management Co. MA now owns 90,195 shares of the energy company's stock worth $3,084,000 after acquiring an additional 296 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of SM Energy by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the energy company's stock worth $2,382,000 after acquiring an additional 300 shares in the last quarter. Eaton Vance Management raised its holdings in shares of SM Energy by 3.8% during the first quarter. Eaton Vance Management now owns 8,361 shares of the energy company's stock worth $326,000 after acquiring an additional 309 shares in the last quarter. Finally, Advisor Partners LLC raised its holdings in shares of SM Energy by 4.7% during the first quarter. Advisor Partners LLC now owns 8,341 shares of the energy company's stock worth $325,000 after acquiring an additional 372 shares in the last quarter. 90.53% of the stock is currently owned by institutional investors and hedge funds.
SM Energy Company Profile
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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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