An issue of SM Energy Company (NYSE:SM) debt rose 1% as a percentage of its face value during trading on Thursday. The debt issue has a 6.125% coupon and is set to mature on November 15, 2022. The bonds in the issue are now trading at $99.50 and were trading at $96.73 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
Several analysts have commented on SM shares. Credit Suisse Group started coverage on shares of SM Energy in a research report on Thursday, June 1st. They set an “outperform” rating and a $30.00 price target for the company. Williams Capital set a $40.00 price objective on shares of SM Energy and gave the company a “buy” rating in a research report on Tuesday, June 6th. Seaport Global Securities lowered shares of SM Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $31.00 to $16.00 in a research report on Wednesday, June 21st. Scotiabank set a $19.00 price target on shares of SM Energy and gave the stock a “hold” rating in a report on Saturday, July 1st. Finally, Bank of America Corporation initiated coverage on shares of SM Energy in a report on Wednesday, July 19th. They issued a “neutral” rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.73.
Shares of SM Energy Company (NYSE:SM) traded up 0.42% during mid-day trading on Friday, hitting $16.61. The company had a trading volume of 2,259,787 shares. The firm has a 50-day moving average of $14.37 and a 200-day moving average of $18.41. The company’s market cap is $1.85 billion. SM Energy Company has a 12 month low of $12.29 and a 12 month high of $43.09. SM Energy also saw unusually large options trading on Wednesday. Stock traders bought 14,897 put options on the company. This represents an increase of 676% compared to the average volume of 1,919 put options.
SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). The company had revenue of $284.94 million for the quarter, compared to the consensus estimate of $299.12 million. SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period last year, the business posted ($0.44) EPS. On average, analysts expect that SM Energy Company will post ($1.14) EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fondren Management LP acquired a new position in shares of SM Energy in the 2nd quarter worth approximately $331,000. Public Employees Retirement System of Ohio grew its position in shares of SM Energy by 17.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 49,191 shares of the energy company’s stock worth $813,000 after acquiring an additional 7,240 shares in the last quarter. Scotia Capital Inc. acquired a new position in shares of SM Energy in the 2nd quarter worth approximately $318,000. California State Teachers Retirement System grew its position in shares of SM Energy by 3.2% in the 2nd quarter. California State Teachers Retirement System now owns 204,059 shares of the energy company’s stock worth $3,373,000 after acquiring an additional 6,263 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new position in shares of SM Energy in the 2nd quarter worth approximately $3,668,000. Institutional investors own 97.03% of the company’s stock.
SM Energy Company Profile
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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