SM Energy (NYSE: SM) was reportedly downgraded by JPMorgan Chase & Co. in a research report released on Wednesday. The firm moved the stock from “overweight” to “neutral,” as reported by The Fly.
There have been many additional stories published in which SM plays a role. In a research note published by StockNews.com on December 21, the recommendation of SM Energy was changed from “hold” to “buy.” Barclays decreased their price objective on SM Energy from $51.00 to $46.00 and rated the stock as “underweight” in a research note published on Wednesday, October 19. Finally, in a research note released on November 14, the Royal Bank of Canada raised its price target for SM Energy from $53.00 to $55.00. The note was about SM Energy’s stock and was published.
Additionally, the report confirmed that the investment bank would maintain its rating of “sector performs” for the company’s stock. KeyCorp downgraded its price target on SM Energy from $64.00 to $56.00 and gave the company an “overweight” rating in a research report that was made public on Thursday, December 8. The company’s performance was discussed in the report released to the public. One financial expert has suggested selling the stock; two other analysts have maintained a hold rating for the stock; and five financial experts have maintained a buy rating. The information from Bloomberg.com indicates that the average price target for SM Energy is currently set at $53.71, and the average recommendation for the company is “Moderate Buy.”
At the opening of trading on Wednesday morning, the price of a share of SM Energy was determined to be $31.98. The company’s market capitalization is currently sitting at $3.93 billion, its price-to-earnings ratio stands at 3.11, and its beta stands at 4.48. The stock’s moving average over the last 50 days comes in at $40.48; over the last 200 days, it averages $40.10. The debt-to-equity ratio comes in at 0.55, the current ratio comes in at 0.99, and the quick ratio comes in at 0.99. The high and low prices for SM Energy over the past 52 weeks are $54.97.
On November 3, the most recent earnings report for SM Energy was made public. SM Energy is traded under the ticker SM on the New York Stock Exchange. The energy company announced earnings of $1.82 per share for the period, which is $0.05 more than the consensus estimate of $1.77 per share. The revenue for the quarter came in significantly higher than the $699.92 million analysts had anticipated, coming in at $835.45 million instead. The return on equity for SM Energy came in at 37.36%, while the net margin for the company was 36.09%. It is anticipated that shareholders of SM Energy will receive a return of 7.37 cents per share from the company’s operations during the current fiscal year.
Julio M. Quintana, the director of the company, sold 22,300 shares of the company’s stock on Friday, October 21. This is an additional point worthy of mention. The sale of the shares resulted in total revenue of $954,217.00, with the average price at which each share could be purchased being $42.79. Following the conclusion of the sale, the director is now the owner of 121,944 shares of the company. The total value of these shares is $5,217,983.76. If you follow the link, which will take you to a legal file submitted to the SEC, you will have the opportunity to acquire additional information regarding the transaction. 1.60 company insiders own a percent of the total shares currently outstanding.
There has recently been a lot of activity in the market from hedge funds and other institutional investors. They have been buying and selling shares of the company. During the third quarter, Global Retirement Partners LLC saw a 677.3% rise in the amount of SM Energy stock it owned as a percentage of its overall holdings. As a result of the purchase of 508 additional shares during the most recent quarter, Global Retirement Partners LLC now holds 583 shares of the energy company’s stock. Based on the current stock price, this gives the company a market value of $26,000. These shares were acquired by paying $1 for each one individually. During the third quarter, CWM LLC completed the purchase of an additional ownership stake in SM Energy equal to 99.3 percent. The total number of shares of the energy company’s stock that CWM LLC now possesses is 867, and their current market value is $33,000. This represents an increase of 432 shares purchased during the most recent quarter of trading activity. During the second quarter, SeaCrest Wealth Management LLC incurred approximately $34,000 additional costs due to its decision to invest in SM Energy. By acquiring a new position in the business during the third quarter, Larson Financial Group LLC was able to raise the value of the shares of SM Energy that it owned, bringing the total cost of those holdings to approximately $38,000.
Last but not least, during the third quarter, Quadrant Capital Group LLC made a 1,338.7% increase in the percentage of SM Energy shares it owned, making it the company with the largest ownership stake. The most recent quarter saw Quadrant Capital Group LLC purchase an additional 2,075 shares of the energy company’s stock, bringing their total holdings to 2,230 shares with a value of $84,000. These new shares brought their total company stock holdings to a value of $84,000. Institutional investors and hedge funds hold 89.4 percent of the total number of shares in the company. This percentage accounts for the majority of the company’s ownership.
Independent energy provider SM Energy Company is active in Texas, providing its services. Oil, natural gas, and natural gas liquids are some commodities that the company is acquiring, exploring, developing, and producing. As of February 24, 2022, it was anticipated that it would have proven reserves equal to 492.0 million barrels of oil. In addition, it has a total of 825 grossly productive oil wells and 483 gas wells that are grossly productive in the Midland Basin and the South Texas region.