Key Points
- Director Ashwin Venkatraman sold 3,650 SM Energy shares at an average price of $38.28, generating $139,722. The sale reduced his direct holdings by 22.57% to 12,525 shares.
- SM Energy’s latest quarterly results beat expectations, with earnings of $2.19 per share versus the $1.96 consensus and revenue of $2.50 billion, up 215.3% year over year.
- The company declared a quarterly dividend of $0.22 per share, equal to an annualized $0.88 payout and a 2.3% yield. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $38.19.
SM Energy Company (NYSE:SM - Get Free Report) Director Ashwin Venkatraman sold 3,650 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the completion of the sale, the director directly owned 12,525 shares of the company's stock, valued at $479,457. The trade was a 22.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
SM Energy Stock Down 0.2%
Shares of SM stock opened at $38.11 on Friday. SM Energy Company has a 1-year low of $17.45 and a 1-year high of $38.94. The stock's fifty day moving average price is $33.23 and its 200 day moving average price is $30.46. 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 company has a market cap of $9.07 billion, a price-to-earnings ratio of 7.50 and a beta of 0.75.
SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same period last year, the business posted $1.50 earnings per share. The firm's revenue was up 215.3% compared to the same quarter last year. On average, research analysts expect that SM Energy Company will post 7.48 earnings per share for the current fiscal year.
SM Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. SM Energy's dividend payout ratio is 17.32%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on SM. Roth Capital upgraded shares of SM Energy from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $30.00 to $32.00 in a research note on Monday, June 22nd. Seaport Research Partners initiated coverage on shares of SM Energy in a research note on Thursday, September 3rd. They set a "sell" rating and a $35.00 price target on the stock. UBS Group initiated coverage on shares of SM Energy in a report on Tuesday, July 14th. They issued a "buy" rating and a $36.00 price target for the company. Raymond James Financial lowered their price objective on shares of SM Energy from $55.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of SM Energy in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.19.
View Our Latest Report on SM
Institutional Investors Weigh In On SM Energy
Large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its holdings in SM Energy by 135.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 57,623 shares of the energy company's stock worth $1,504,000 after buying an additional 33,181 shares during the period. Tidal Investments LLC lifted its stake in SM Energy by 19.7% during the 2nd quarter. Tidal Investments LLC now owns 18,189 shares of the energy company's stock valued at $475,000 after acquiring an additional 2,989 shares during the period. Engineers Gate Manager LP acquired a new stake in SM Energy during the 2nd quarter valued at approximately $1,489,000. Integrated Wealth Concepts LLC acquired a new stake in SM Energy during the 2nd quarter valued at approximately $70,000. Finally, IFP Advisors Inc boosted its holdings in shares of SM Energy by 1.8% in the 2nd quarter. IFP Advisors Inc now owns 18,006 shares of the energy company's stock valued at $470,000 after acquiring an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company's stock.
SM Energy Company Profile
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Get Free Report)
SM Energy Company (NYSE: SM) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. Its operations focus on acquiring and developing oil and gas properties and producing hydrocarbons from onshore assets in the United States.
The company's principal operations are concentrated in the Permian Basin of West Texas and the South Texas region. SM Energy has also expanded its U.S. operating portfolio through acquisitions, including assets in Utah's Uinta Basin.
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