Barclays PLC Trims SM Energy Company (NYSE:SM) Target Price to $20.00

SM Energy Company (NYSE:SM) had its target price cut by Barclays PLC from $21.00 to $20.00 in a research report released on Tuesday morning. They currently have an overweight rating on the energy company’s stock.

SM has been the topic of several other research reports. Zacks Investment Research lowered shares of SM Energy from a hold rating to a sell rating in a research report on Wednesday, July 19th. Bank of America Corporation began coverage on shares of SM Energy in a research report on Wednesday, July 19th. They set a neutral rating and a $20.00 price target on the stock. Credit Suisse Group began coverage on shares of SM Energy in a research report on Thursday, June 1st. They set an outperform rating and a $30.00 price target on the stock. Williams Capital restated a buy rating and set a $40.00 price target on shares of SM Energy in a research report on Wednesday, May 3rd. Finally, Royal Bank Of Canada set a $36.00 price target on shares of SM Energy and gave the company a hold rating in a research report on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. SM Energy currently has an average rating of Hold and a consensus price target of $34.22.

Shares of SM Energy (SM) traded down 0.55% during midday trading on Tuesday, hitting $14.40. 2,157,312 shares of the stock were exchanged. The stock’s market cap is $1.61 billion. The firm’s 50-day moving average is $16.31 and its 200-day moving average is $21.35. SM Energy has a 12 month low of $13.76 and a 12 month high of $43.09.

SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.32) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). The company had revenue of $284.94 million for the quarter, compared to analyst estimates of $299.12 million. SM Energy had a negative net margin of 20.67% and a negative return on equity of 3.11%. The firm’s revenue was down 16.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.44) earnings per share. Equities research analysts predict that SM Energy will post ($1.09) earnings per share for the current year.

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In other news, CEO Javan D. Ottoson bought 2,000 shares of SM Energy stock in a transaction on Thursday, June 8th. The shares were bought at an average cost of $16.44 per share, with a total value of $32,880.00. Following the completion of the purchase, the chief executive officer now directly owns 143,302 shares of the company’s stock, valued at $2,355,884.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Herbert S. Vogel bought 3,000 shares of SM Energy stock in a transaction on Thursday, June 8th. The shares were purchased at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the completion of the purchase, the executive vice president now directly owns 32,637 shares of the company’s stock, valued at $541,774.20. The disclosure for this purchase can be found here. Company insiders own 0.89% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of SM Energy during the fourth quarter worth approximately $221,000. Teachers Advisors LLC increased its position in shares of SM Energy by 19.7% in the fourth quarter. Teachers Advisors LLC now owns 181,994 shares of the energy company’s stock worth $6,275,000 after buying an additional 30,015 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of SM Energy during the first quarter worth approximately $5,454,000. Capstone Asset Management Co. increased its position in shares of SM Energy by 10.8% in the first quarter. Capstone Asset Management Co. now owns 8,546 shares of the energy company’s stock worth $205,000 after buying an additional 830 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of SM Energy by 3.8% in the first quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the energy company’s stock worth $593,000 after buying an additional 900 shares during the period. 97.34% of the stock is currently owned by institutional investors.

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.