SM Energy (NYSE:SM) Shares Gap Down to $48.42

SM Energy (NYSE:SM) shares gapped down prior to trading on Thursday . The stock had previously closed at $48.42, but opened at $44.85. SM Energy shares last traded at $43.40, with a volume of 1,038,701 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday. Mizuho raised their target price on shares of SM Energy from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Wells Fargo & Company raised their target price on shares of SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. raised their target price on shares of SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, KeyCorp raised their target price on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, SM Energy has an average rating of “Moderate Buy” and an average price target of $55.11.

SM Energy Stock Performance

The stock has a market cap of $4.96 billion, a P/E ratio of 6.77 and a beta of 4.15. The firm’s 50-day moving average is $48.52 and its two-hundred day moving average is $44.32. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Thursday, May 2nd. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.13. The firm had revenue of $559.87 million for the quarter, compared to analyst estimates of $568.21 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. As a group, research analysts expect that SM Energy will post 6.63 EPS for the current year.

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, July 19th. SM Energy’s payout ratio is presently 11.29%.

Insider Activity at SM Energy

In other news, SVP Kenneth J. Knott sold 16,000 shares of SM Energy stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $50.28, for a total value of $804,480.00. Following the transaction, the senior vice president now owns 114,495 shares of the company’s stock, valued at $5,756,808.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SM Energy

A number of institutional investors have recently modified their holdings of SM. Boston Partners increased its position in SM Energy by 6.1% during the first quarter. Boston Partners now owns 18,606 shares of the energy company’s stock worth $928,000 after acquiring an additional 1,065 shares during the period. Atria Investments Inc bought a new position in SM Energy during the first quarter worth $1,096,000. Adams Wealth Management increased its position in SM Energy by 26.7% during the first quarter. Adams Wealth Management now owns 52,546 shares of the energy company’s stock worth $2,619,000 after acquiring an additional 11,077 shares during the period. Kennedy Capital Management LLC increased its position in SM Energy by 5.0% during the first quarter. Kennedy Capital Management LLC now owns 181,733 shares of the energy company’s stock worth $9,059,000 after acquiring an additional 8,653 shares during the period. Finally, Bayesian Capital Management LP bought a new position in SM Energy during the first quarter worth $368,000. Institutional investors own 94.56% of the company’s stock.

About SM Energy

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.