SM Energy Co (NYSE:SM) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 15,063,500 shares, a growth of 7.6% from the June 30th total of 14,004,100 shares. Currently, 14.3% of the company’s shares are sold short. Based on an average daily trading volume, of 3,710,000 shares, the days-to-cover ratio is currently 4.1 days.
A number of research firms have recently issued reports on SM. Raymond James reduced their price target on shares of SM Energy from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Jefferies Financial Group began coverage on shares of SM Energy in a research report on Monday, July 29th. They issued a “hold” rating and a $10.00 price target for the company. Wells Fargo & Co lowered shares of SM Energy from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a research report on Monday, July 8th. Capital One Financial raised shares of SM Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Finally, Bank of America reissued an “underperform” rating and issued a $14.00 price target (down from $17.00) on shares of SM Energy in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.83.
NYSE:SM traded down $1.23 during mid-day trading on Wednesday, reaching $9.04. The stock had a trading volume of 3,602,081 shares, compared to its average volume of 3,108,437. The company has a 50 day moving average of $10.49. SM Energy has a fifty-two week low of $8.51 and a fifty-two week high of $33.76. The company has a market cap of $1.17 billion, a PE ratio of 301.33 and a beta of 2.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.57 and a current ratio of 0.57.
SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.13. SM Energy had a negative return on equity of 2.07% and a net margin of 2.91%. The firm had revenue of $407.17 million for the quarter, compared to the consensus estimate of $407.53 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Research analysts predict that SM Energy will post -0.37 earnings per share for the current fiscal year.
In other news, EVP David W. Copeland acquired 10,000 shares of SM Energy stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $12.71 per share, with a total value of $127,100.00. Following the completion of the purchase, the executive vice president now owns 106,454 shares of the company’s stock, valued at $1,353,030.34. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its holdings in SM Energy by 0.5% during the first quarter. Retirement Systems of Alabama now owns 134,423 shares of the energy company’s stock valued at $2,351,000 after purchasing an additional 654 shares during the last quarter. Mason Street Advisors LLC grew its holdings in SM Energy by 1.6% during the first quarter. Mason Street Advisors LLC now owns 54,913 shares of the energy company’s stock valued at $960,000 after purchasing an additional 872 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in SM Energy by 2.5% during the second quarter. Meeder Asset Management Inc. now owns 46,839 shares of the energy company’s stock valued at $586,000 after purchasing an additional 1,149 shares during the last quarter. Private Capital Group LLC grew its holdings in SM Energy by 113.3% during the first quarter. Private Capital Group LLC now owns 2,536 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,347 shares during the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in SM Energy by 13.8% during the second quarter. Point72 Hong Kong Ltd now owns 13,705 shares of the energy company’s stock valued at $172,000 after purchasing an additional 1,657 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.
About SM Energy
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.
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