SM Energy (NYSE:SM) Shares Gap Down to $45.16

SM Energy (NYSE:SMGet Rating)’s share price gapped down prior to trading on Friday . The stock had previously closed at $45.16, but opened at $43.75. SM Energy shares last traded at $43.45, with a volume of 6,448 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on SM Energy from $53.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, November 14th. Barclays reduced their price objective on SM Energy from $51.00 to $46.00 and set an “underweight” rating for the company in a research note on Wednesday, October 19th. StockNews.com downgraded SM Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 7th. Finally, KeyCorp started coverage on SM Energy in a research note on Monday, September 19th. They set an “overweight” rating and a $64.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.44.

SM Energy Trading Down 1.7 %

The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 4.31 and a beta of 4.56. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 0.99. The business has a fifty day moving average of $43.39 and a two-hundred day moving average of $41.40.

SM Energy Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th were issued a dividend of $0.15 per share. This represents a yield of 0.7%. The ex-dividend date was Monday, October 24th. This is a boost from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s dividend payout ratio is 5.83%.

Insider Buying and Selling at SM Energy

In other SM Energy news, CAO Patrick A. Lytle sold 8,658 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $45.61, for a total transaction of $394,891.38. Following the sale, the chief accounting officer now owns 12,463 shares in the company, valued at approximately $568,437.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other SM Energy news, EVP David W. Copeland sold 10,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $46.23, for a total transaction of $462,300.00. Following the transaction, the executive vice president now owns 228,543 shares of the company’s stock, valued at approximately $10,565,542.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Patrick A. Lytle sold 8,658 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $45.61, for a total value of $394,891.38. Following the transaction, the chief accounting officer now directly owns 12,463 shares in the company, valued at approximately $568,437.43. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of SM Energy by 3.4% in the 3rd quarter. BlackRock Inc. now owns 20,286,857 shares of the energy company’s stock worth $762,988,000 after buying an additional 676,547 shares during the period. Vanguard Group Inc. raised its position in shares of SM Energy by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 15,111,503 shares of the energy company’s stock worth $568,344,000 after buying an additional 224,029 shares during the period. State Street Corp raised its position in shares of SM Energy by 13.7% in the 1st quarter. State Street Corp now owns 7,002,705 shares of the energy company’s stock worth $272,755,000 after buying an additional 842,589 shares during the period. Dimensional Fund Advisors LP raised its position in shares of SM Energy by 8.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,897,988 shares of the energy company’s stock worth $151,837,000 after buying an additional 293,299 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of SM Energy by 35.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,249,967 shares of the energy company’s stock worth $126,586,000 after buying an additional 849,019 shares during the period. Hedge funds and other institutional investors own 90.53% of the company’s stock.

About SM Energy

(Get Rating)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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