Seven Eight Capital LP Takes Position in SM Energy (NYSE:SM)

Seven Eight Capital LP purchased a new position in SM Energy (NYSE:SM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,991 shares of the energy company’s stock, valued at approximately $475,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new position in SM Energy in the first quarter valued at about $25,000. Plato Investment Management Ltd lifted its stake in SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after purchasing an additional 485 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after purchasing an additional 474 shares during the last quarter. Lindbrook Capital LLC grew its holdings in SM Energy by 54.9% during the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock valued at $29,000 after purchasing an additional 206 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in SM Energy by 63.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock worth $38,000 after buying an additional 340 shares during the last quarter. Institutional investors own 94.56% of the company’s stock.

SM Energy Stock Up 0.1 %

Shares of NYSE:SM opened at $41.53 on Monday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 6.51 and a beta of 4.18. SM Energy has a one year low of $34.13 and a one year high of $53.26. The firm has a fifty day moving average price of $43.60 and a two-hundred day moving average price of $46.63. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.28. The company had revenue of $634.56 million during the quarter, compared to analyst estimates of $616.63 million. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned $1.28 earnings per share. Analysts anticipate that SM Energy will post 7.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on SM shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $54.00 price target on shares of SM Energy in a research note on Tuesday, July 9th. Stephens reiterated an “overweight” rating and set a $63.00 target price on shares of SM Energy in a research report on Thursday, June 27th. Wells Fargo & Company lowered their price target on shares of SM Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Tudor Pickering raised shares of SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, StockNews.com cut shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.22.

SM Energy Profile

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.