SM Energy Company (NYSE:SM) – Research analysts at Seaport Global Securities upped their Q2 2017 EPS estimates for shares of SM Energy in a report released on Monday. Seaport Global Securities analyst M. Kelly now expects that the energy company will post earnings per share of ($0.37) for the quarter, up from their prior forecast of ($0.38). Seaport Global Securities currently has a “Neutral” rating and a $16.00 price target on the stock. Seaport Global Securities also issued estimates for SM Energy’s FY2017 earnings at ($1.25) EPS.
SM Energy (NYSE:SM) last announced its quarterly earnings data on Tuesday, May 2nd. The energy company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.54. SM Energy had a negative net margin of 23.23% and a negative return on equity of 3.28%. The company had revenue of $372.74 million during the quarter, compared to analysts’ expectations of $309.43 million.
SM has been the subject of a number of other reports. Royal Bank Of Canada reiterated a “hold” rating and set a $38.00 price target on shares of SM Energy in a report on Friday, March 31st. Williams Capital reiterated a “buy” rating and set a $45.00 price target on shares of SM Energy in a report on Monday, April 17th. Barclays PLC reiterated an “overweight” rating and set a $30.00 price target (down from $38.00) on shares of SM Energy in a report on Saturday, April 22nd. Scotiabank reiterated an “outperform” rating and set a $5.25 price target on shares of SM Energy in a report on Thursday, May 4th. Finally, Bank of America Corporation downgraded shares of SM Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $48.00 to $37.00 in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.65.
Shares of SM Energy (SM) opened at 18.08 on Thursday. The company’s 50-day moving average is $16.58 and its 200 day moving average is $22.41. SM Energy has a 52 week low of $13.76 and a 52 week high of $43.09. The stock’s market cap is $2.01 billion.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Causeway Capital Management LLC boosted its position in shares of SM Energy by 230.1% in the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock worth $189,801,000 after buying an additional 4,816,230 shares during the period. Reservoir Operations L.P. acquired a new position in shares of SM Energy during the first quarter worth $80,383,000. Vanguard Group Inc. boosted its position in shares of SM Energy by 16.2% in the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock worth $210,889,000 after buying an additional 1,226,564 shares during the period. Alliancebernstein L.P. boosted its position in shares of SM Energy by 33.1% in the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock worth $95,926,000 after buying an additional 994,186 shares during the period. Finally, Norges Bank acquired a new position in shares of SM Energy during the fourth quarter worth $33,761,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.
In other SM Energy news, CEO Javan D. Ottoson purchased 2,000 shares of SM Energy stock in a transaction on Thursday, June 8th. The shares were purchased at an average cost of $16.44 per share, with a total value of $32,880.00. Following the completion of the transaction, the chief executive officer now directly owns 143,302 shares in the company, valued at approximately $2,355,884.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Herbert S. Vogel purchased 3,000 shares of SM Energy stock in a transaction on Thursday, June 8th. The shares were acquired at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the completion of the transaction, the executive vice president now owns 32,637 shares of the company’s stock, valued at $541,774.20. The disclosure for this purchase can be found here. Insiders own 0.89% of the company’s stock.
About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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