SM Energy Co (NYSE:SM) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 12,074,000 shares, a growth of 33.2% from the May 30th total of 9,065,800 shares. Based on an average trading volume of 3,100,000 shares, the short-interest ratio is presently 3.9 days. Approximately 11.5% of the shares of the company are short sold.
Shares of NYSE:SM traded down $0.22 during trading on Friday, hitting $10.82. 2,453,629 shares of the stock were exchanged, compared to its average volume of 4,612,145. SM Energy has a 1-year low of $10.17 and a 1-year high of $33.76. The company has a fifty day moving average price of $11.76. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96.
SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.06). The firm had revenue of $340.90 million for the quarter, compared to analyst estimates of $341.25 million. SM Energy had a negative return on equity of 1.52% and a net margin of 0.82%. SM Energy’s revenue for the quarter was down 55.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. On average, sell-side analysts predict that SM Energy will post -0.2 EPS for the current year.
In other SM Energy news, CEO Javan D. Ottoson bought 5,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $14.63 per share, with a total value of $73,150.00. Following the acquisition, the chief executive officer now directly owns 182,126 shares of the company’s stock, valued at approximately $2,664,503.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David W. Copeland bought 10,000 shares of the stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $12.71 per share, for a total transaction of $127,100.00. Following the acquisition, the executive vice president now directly owns 106,454 shares in the company, valued at $1,353,030.34. The disclosure for this purchase can be found here. Insiders purchased a total of 17,000 shares of company stock worth $225,070 over the last three months. 1.00% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in SM. Prudential Financial Inc. boosted its stake in SM Energy by 3.6% in the 4th quarter. Prudential Financial Inc. now owns 67,065 shares of the energy company’s stock valued at $1,038,000 after buying an additional 2,310 shares in the last quarter. BlackRock Inc. boosted its stake in SM Energy by 2.7% in the 4th quarter. BlackRock Inc. now owns 9,335,812 shares of the energy company’s stock valued at $144,520,000 after buying an additional 247,649 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in SM Energy by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,876,364 shares of the energy company’s stock valued at $29,045,000 after buying an additional 28,283 shares in the last quarter. Texas Permanent School Fund boosted its stake in SM Energy by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 67,514 shares of the energy company’s stock valued at $1,045,000 after buying an additional 2,601 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in SM Energy by 14.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 65,013 shares of the energy company’s stock valued at $934,000 after buying an additional 8,216 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.
SM has been the topic of a number of research analyst reports. Barclays reaffirmed a “buy” rating and issued a $65.00 target price on shares of Owens Corning in a report on Monday, July 1st. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Cowen set a $27.00 target price on Schnitzer Steel Industries and gave the company a “hold” rating in a report on Tuesday, April 9th. TheStreet raised ZTO Express (Cayman) from a “c+” rating to a “b” rating in a report on Thursday, May 16th. Finally, Stephens reissued an “overweight” rating and set a $20.00 price objective (down previously from $26.00) on shares of SM Energy in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.81.
SM Energy Company Profile
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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