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

SM Energy (NYSE:SM)’s share price gapped down before the market opened on Monday . The stock had previously closed at $43.48, but opened at $41.32. SM Energy shares last traded at $41.65, with a volume of 87,934 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SM. TD Cowen upgraded shares of SM Energy from a “hold” rating to a “buy” rating and decreased their target price for the stock from $64.00 to $60.00 in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 target price on shares of SM Energy in a research note on Tuesday, October 8th. Mizuho decreased their price objective on SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, BMO Capital Markets cut their price objective on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SM Energy has a consensus rating of “Moderate Buy” and a consensus price target of $51.73.

SM Energy Trading Down 3.9 %

The business’s 50 day moving average price is $42.74 and its two-hundred day moving average price is $45.55. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 6.26 and a beta of 4.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.28. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The firm had revenue of $634.56 million during the quarter, compared to the consensus estimate of $616.63 million. During the same period in the prior year, the business earned $1.28 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities analysts forecast that SM Energy will post 7.06 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be given a $0.20 dividend. This is an increase from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, October 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.92%. SM Energy’s dividend payout ratio is presently 10.36%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Register Financial Advisors LLC bought a new position in SM Energy in the 1st quarter worth approximately $25,000. Plato Investment Management Ltd increased its holdings in shares of SM Energy by 461.9% during the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock worth $26,000 after purchasing an additional 485 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of 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 buying an additional 474 shares during the period. Massmutual Trust Co. FSB ADV grew its position in SM Energy by 63.9% during 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 in the last quarter. Finally, Mather Group LLC. acquired a new position in SM Energy in the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

SM Energy Company 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.