SM Energy (NYSE:SM) Shares Gap Up to $41.35

Shares of SM Energy (NYSE:SMGet Rating) gapped up before the market opened on Monday . The stock had previously closed at $41.35, but opened at $42.43. SM Energy shares last traded at $42.10, with a volume of 3,399 shares changing hands.

Several equities research analysts have weighed in on the company. Barclays increased their price objective on SM Energy from $23.00 to $39.00 in a report on Friday, March 18th. StockNews.com assumed coverage on SM Energy in a report on Thursday, March 31st. They issued a “buy” rating for the company. Wells Fargo & Company increased their price objective on SM Energy from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. JPMorgan Chase & Co. lowered their target price on SM Energy from $49.00 to $47.00 in a research note on Friday, January 7th. Finally, Zacks Investment Research cut SM Energy from a “strong-buy” rating to a “hold” rating and set a $42.00 target price for the company. in a research note on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $46.67.

The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $5.03 billion, a P/E ratio of 827.17 and a beta of 5.48. The stock has a 50-day moving average of $38.07 and a two-hundred day moving average of $34.14.

SM Energy (NYSE:SMGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The energy company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.32. SM Energy had a return on equity of 13.06% and a net margin of 1.38%. The company had revenue of $854.90 million during the quarter, compared to analyst estimates of $595.23 million. During the same quarter last year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. Research analysts predict that SM Energy will post 8.98 EPS for the current year.

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, May 6th. Stockholders of record on Friday, April 22nd will be paid a $0.01 dividend. This represents a dividend yield of 0.1%. The ex-dividend date is Thursday, April 21st. SM Energy’s dividend payout ratio is currently 40.01%.

In other SM Energy news, CAO Patrick A. Lytle sold 6,776 shares of the company’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $42.01, for a total transaction of $284,659.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramiro G. Peru sold 30,000 shares of the company’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $40.60, for a total transaction of $1,218,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,562 shares of company stock worth $2,640,925. Corporate insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Frontier Capital Management Co. LLC bought a new position in SM Energy during the 1st quarter valued at about $53,870,000. Maryland State Retirement & Pension System lifted its stake in shares of SM Energy by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 48,711 shares of the energy company’s stock worth $1,897,000 after purchasing an additional 284 shares during the period. US Asset Management LLC bought a new position in shares of SM Energy in the 1st quarter worth approximately $99,000. Pacer Advisors Inc. bought a new position in shares of SM Energy in the 1st quarter worth approximately $16,283,000. Finally, Byrne Asset Management LLC bought a new position in shares of SM Energy in the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 89.43% of the company’s stock.

About SM Energy (NYSE:SM)

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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