SM Energy (NYSE:SM) Trading Up 5.3% – Time to Buy?

Shares of SM Energy Company (NYSE:SM) shot up 5.3% during mid-day trading on Thursday . The company traded as high as $38.00 and last traded at $38.0580. Approximately 431,095 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 5,244,682 shares. The stock had previously closed at $36.14.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group started coverage on SM Energy in a research note on Tuesday, July 14th. They set a “buy” rating and a $36.00 price target on the stock. Raymond James Financial reduced their price objective on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Wells Fargo & Company raised SM Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $47.00 in a report on Thursday, August 13th. Stephens dropped their target price on SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Finally, Roth Capital upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $32.00 in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.93.

SM Energy Stock Up 5.2%

The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 7.48 and a beta of 0.73. The business’s 50-day moving average is $29.93 and its 200-day moving average is $28.61.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.23. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The firm’s revenue for the quarter was up 215.3% compared to the same quarter last year. During the same period last year, the firm earned $1.50 EPS. As a group, equities analysts predict that SM Energy Company will post 7.1 earnings per share for the current year.

Institutional Trading of SM Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in SM Energy by 3.8% in the second quarter. GAMMA Investing LLC now owns 10,108 shares of the energy company’s stock valued at $264,000 after acquiring an additional 371 shares during the period. Quad Cities Investment Group LLC grew its stake in shares of SM Energy by 2.8% during the 2nd quarter. Quad Cities Investment Group LLC now owns 13,777 shares of the energy company’s stock worth $360,000 after purchasing an additional 375 shares during the period. Summit Global Investments grew its stake in shares of SM Energy by 1.1% during the 4th quarter. Summit Global Investments now owns 46,417 shares of the energy company’s stock worth $868,000 after purchasing an additional 489 shares during the period. State of Wyoming increased its holdings in shares of SM Energy by 22.2% during the 4th quarter. State of Wyoming now owns 2,748 shares of the energy company’s stock valued at $51,000 after purchasing an additional 499 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of SM Energy by 62.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after purchasing an additional 535 shares in the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.

About SM Energy

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.