SM Energy (NYSE:SM) Stock Price Down 15.6% – Here’s What Happened

SM Energy (NYSE:SM)’s stock price was down 15.6% during mid-day trading on Thursday . The company traded as low as $26.16 and last traded at $25.75. Approximately 744,861 shares changed hands during trading, a decline of 58% from the average daily volume of 1,791,280 shares. The stock had previously closed at $30.52.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com cut SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Truist Financial upped their price target on shares of SM Energy from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Raymond James lowered their price objective on shares of SM Energy from $59.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company dropped their price objective on shares of SM Energy from $45.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Finally, Williams Trading set a $41.00 price target on SM Energy in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

SM Energy Trading Down 16.0 %

The company has a market cap of $2.94 billion, a price-to-earnings ratio of 3.85 and a beta of 3.75. The business has a fifty day simple moving average of $33.95 and a 200 day simple moving average of $39.22. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, February 19th. The energy company reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). The company had revenue of $852.22 million for the quarter, compared to analyst estimates of $849.44 million. SM Energy had a net margin of 28.63% and a return on equity of 19.82%. On average, equities analysts anticipate that SM Energy will post 8.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.12%. SM Energy’s dividend payout ratio is currently 11.98%.

Insiders Place Their Bets

In related news, Director Barton R. Brookman, Jr. acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $32.36 per share, for a total transaction of $226,520.00. Following the acquisition, the director now directly owns 14,666 shares in the company, valued at approximately $474,591.76. The trade was a 91.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SM Energy

Large investors have recently modified their holdings of the company. FMR LLC raised its holdings in SM Energy by 0.8% in the third quarter. FMR LLC now owns 339,791 shares of the energy company’s stock valued at $13,581,000 after buying an additional 2,644 shares during the period. BNP Paribas Financial Markets raised its stake in shares of SM Energy by 245.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 38,430 shares of the energy company’s stock valued at $1,536,000 after acquiring an additional 27,291 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of SM Energy by 24.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,102 shares of the energy company’s stock valued at $1,363,000 after acquiring an additional 6,667 shares in the last quarter. Captrust Financial Advisors purchased a new stake in SM Energy during the 3rd quarter worth $281,000. Finally, Verition Fund Management LLC grew its stake in shares of SM Energy by 163.9% in the third quarter. Verition Fund Management LLC now owns 31,048 shares of the energy company’s stock valued at $1,241,000 after buying an additional 19,282 shares in the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

About SM Energy

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.