Today’s Market Runner: SM Energy Co on Focus After Trading At 52-Week Highs

Today's Market Runner: SM Energy Co on Focus After Trading At 52 Week Highs

The stock of SM Energy Co (NYSE:SM) hit a new 52-week high and has $51.38 target or 23.00% above today’s $41.77 share price. The 9 months bullish chart indicates low risk for the $3.46 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $51.38 price target is reached, the company will be worth $795.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 551,132 shares traded hands. SM Energy Co (NYSE:SM) has risen 128.60% since March 7, 2016 and is uptrending. It has outperformed by 121.01% the S&P500.

Analysts await SM Energy Co (NYSE:SM) to report earnings on October, 25. They expect $-0.60 EPS, down 76.47% or $0.26 from last year’s $-0.34 per share. After $-0.44 actual EPS reported by SM Energy Co for the previous quarter, Wall Street now forecasts 36.36% negative EPS growth.

SM Energy Co (NYSE:SM) Ratings Coverage

Out of 18 analysts covering SM Energy (NYSE:SM), 10 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 56% are positive. SM Energy has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Wednesday, December 9, the company rating was initiated by JP Morgan. The stock of SM Energy Co (NYSE:SM) has “Accumulate” rating given on Monday, April 18 by KLR Group. The company was upgraded on Monday, November 2 by Guggenheim. The rating was maintained by Deutsche Bank on Tuesday, June 14 with “Hold”. The rating was upgraded by Seaport Global on Tuesday, August 30 to “Buy”. On Wednesday, December 23 the stock rating was initiated by Cantor Fitzgerald with “Hold”. On Friday, March 11 the stock rating was maintained by Deutsche Bank with “Hold”. The firm has “Equal Weight” rating given on Tuesday, January 19 by CapitalOne. The rating was upgraded by Raymond James on Wednesday, July 29 to “Outperform”. The rating was maintained by JP Morgan with “Neutral” on Tuesday, March 15.

According to Zacks Investment Research, “SM Energy Company, formerly known as St. Mary Land & Exploration Company, is an independent energy company engaged in the exploration, exploitation, development, acquisition, and production of natural gas and crude oil. The Company operates in the areas: Mid-Continent, Rocky Mountains, ArkLaTex, Permian Basin, and Gulf Coast regions which are operated out of its offices in Tulsa, Oklahoma; Billings, Montana; Shreveport, Louisiana; Midland, Texas; and Houston, Texas, respectively. SM Energy Company is based in Denver, Colorado.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in 2016 Q2. Its down 0.09, from 1.01 in 2016Q1. The ratio dived, as 25 funds sold all SM Energy Co shares owned while 80 reduced positions. 32 funds bought stakes while 65 increased positions. They now own 71.53 million shares or 13.24% less from 82.45 million shares in 2016Q1.
Mackenzie Corp owns 458,564 shares or 0.07% of their US portfolio. Credit Agricole S A accumulated 5,624 shares or 0% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Point72 Asset Limited Partnership holds 0.02% of its portfolio in SM Energy Co (NYSE:SM) for 100,000 shares. Guardian accumulated 0% or 176 shares. Blackrock Institutional Na has 2.45 million shares for 0.01% of their US portfolio. Barclays Public Limited has invested 0% of its portfolio in SM Energy Co (NYSE:SM). Spot Trading Limited Company last reported 0% of its portfolio in the stock. Capstone Asset Mgmt last reported 11,276 shares in the company. Weaver C Barksdale & Assoc holds 0.01% of its portfolio in SM Energy Co (NYSE:SM) for 187 shares. Ig Inv Limited last reported 0.01% of its portfolio in the stock. Louisiana State Employees Retirement Systems owns 18,100 shares or 0.03% of their US portfolio. Teachers Retirement Of The State Of Kentucky has 0.09% invested in the company for 253,400 shares. Proshare Advsr Limited Co has 0% invested in the company for 12,979 shares. Moreover, Columbia Pacific Limited Com has 2.46% invested in SM Energy Co (NYSE:SM) for 149,359 shares.

Insider Transactions: Since September 29, 2016, the stock had 0 insider buys, and 1 sale for $26,440 net activity. Another trade for 661 shares valued at $26,440 was sold by Knott Kenneth J..

More news for SM Energy Co (NYSE:SM) were recently published by: Prnewswire.com, which released: “Riverstone Holdings LLC Announces Sale of Rock Oil Holdings LLC to SM Energy …” on August 08, 2016. Zacks.com‘s article titled: “SM Energy Buys Permian Basin Assets; Hikes Borrowing Base” and published on October 10, 2016 is yet another important article.

SM Company Profile

SM Energy Company, incorporated on January 23, 1915, is an independent energy company. The Firm is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Firm operates in the exploration and production segment of the gas and oil industry within the United States. The Company’s activities are concentrated in onshore operating areas in the United States: South Texas & Gulf Coast Region, Rocky Mountain Region and Permian Region. The Firm has working interests in approximately 1,460 gross (approximately 870 net) productive oil wells and approximately 1,770 gross (approximately 650 net) productive gas wells.

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