The stock of SM Energy Co (NYSE:SM) hit a new 52-week high and has $58.10 target or 45.00% above today’s $40.07 share price. The 9 months bullish chart indicates low risk for the $3.37 billion company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $58.10 price target is reached, the company will be worth $1.52B 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 1.59 million shares traded hands. SM Energy Co (NYSE:SM) has risen 126.04% since March 15, 2016 and is uptrending. It has outperformed by 120.55% 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. $59 is the highest target while $14 is the lowest. The $30 average target is -25.13% below today’s ($40.07) stock price. SM Energy has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by PiperJaffray to “Overweight” on Monday, August 15. On Friday, March 11 the stock rating was maintained by Deutsche Bank with “Hold”. Topeka Capital Markets maintained the stock with “Buy” rating in Wednesday, October 28 report. The stock of SM Energy Co (NYSE:SM) has “Sector Perform” rating given on Monday, December 14 by Howard Weil. The stock has “Buy” rating given by Topeka Capital Markets on Wednesday, January 20. On Tuesday, October 4 the stock rating was upgraded by Howard Weil to “Sector Outperform”. CapitalOne upgraded the stock to “Equal Weight” rating in Tuesday, January 19 report. The rating was maintained by Topeka Capital Markets on Wednesday, February 24 with “Buy”. As per Tuesday, August 9, the company rating was upgraded by KLR Group. The stock of SM Energy Co (NYSE:SM) has “Buy” rating given on Tuesday, October 13 by Topeka Capital Markets.
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 Q2 2016. Its down 0.09, from 1.01 in 2016Q1. The ratio fall, 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.
Enterprise last reported 0% of its portfolio in the stock. Causeway Mgmt Ltd Liability Corporation owns 2.11 million shares or 1.38% of their US portfolio. First Pacific last reported 0.22% of its portfolio in the stock. Aqr Management Ltd last reported 687,032 shares in the company. Moreover, Goldman Sachs Group Inc Incorporated has 0.01% invested in SM Energy Co (NYSE:SM) for 917,570 shares. Nationwide Fund reported 121,133 shares or 0.01% of all its holdings. State Board Of Administration Of Florida Retirement Sys last reported 0.01% of its portfolio in the stock. Bank Of America De holds 112,579 shares or 0% of its portfolio. State Street Corp holds 0.01% of its portfolio in SM Energy Co (NYSE:SM) for 3.24 million shares. Morgan Stanley holds 0% of its portfolio in SM Energy Co (NYSE:SM) for 238,205 shares. Lord Abbett Lc last reported 0.03% of its portfolio in the stock. Cornerstone Cap Management Hldg Ltd Llc holds 116,349 shares or 0.03% of its portfolio. Bartlett Limited Liability Company holds 0.01% of its portfolio in SM Energy Co (NYSE:SM) for 6,760 shares. Pnc Financial Grp Incorporated has 398 shares for 0% of their US portfolio. Cubist Systematic Strategies Lc, a Connecticut-based fund reported 15,379 shares.
Insider Transactions: Since September 29, 2016, the stock had 0 insider purchases, and 1 insider sale for $26,440 net activity. The insider Knott Kenneth J. sold $26,440.
More news for SM Energy Co (NYSE:SM) were recently published by: Reuters.com, which released: “SM Energy to buy Permian Basin acreage for $1.6 billion” on October 18, 2016. Benzinga.com‘s article titled: “Benzinga’s Top Upgrades” and published on October 18, 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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