SM Energy (NYSE:SM) Shares Gap Down – Here’s Why

Shares of SM Energy Company (NYSE:SM) gapped down prior to trading on Monday . The stock had previously closed at $26.79, but opened at $26.00. SM Energy shares last traded at $26.7570, with a volume of 1,066,814 shares traded.

Analyst Ratings Changes

SM has been the topic of several recent analyst reports. Siebert Williams Shank cut shares of SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada decreased their price target on SM Energy from $35.00 to $29.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 13th. Susquehanna dropped their price target on SM Energy from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, January 26th. Stephens boosted their price objective on SM Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Finally, Mizuho set a $34.00 target price on SM Energy in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.00.

SM Energy Trading Down 0.2%

The firm has a fifty day moving average of $21.09 and a two-hundred day moving average of $21.68. The company has a market cap of $3.06 billion, a PE ratio of 4.72 and a beta of 1.03. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.48.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, February 25th. The energy company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The firm had revenue of $704.92 million during the quarter, compared to analyst estimates of $764.40 million. SM Energy had a net margin of 20.55% and a return on equity of 13.47%. The company’s quarterly revenue was down 17.3% on a year-over-year basis. During the same quarter last year, the business earned $1.91 earnings per share. As a group, sell-side analysts predict that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from SM Energy’s previous quarterly dividend of $0.20. SM Energy’s payout ratio is presently 15.58%.

Hedge Funds Weigh In On SM Energy

Large investors have recently made changes to their positions in the stock. NBC Securities Inc. lifted its holdings in SM Energy by 160.5% during the 4th quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock worth $25,000 after purchasing an additional 830 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in SM Energy by 10,461.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock valued at $26,000 after buying an additional 1,360 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after buying an additional 535 shares during the period. First Horizon Corp bought a new stake in shares of SM Energy during the third quarter valued at about $30,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of SM Energy in the third quarter worth about $31,000. 94.56% of the stock is owned by institutional investors.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.