SM Energy Company (NYSE:SM) has tumbled 1.54% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.17% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.36%. SM Energy Company (NYSE:SM) has underperformed the index by 0.74% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
SM Energy Company (NYSE:SM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.53 and $27.29 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.34, notching a gain of 11.47% for the day. The total traded volume was 5,055,945 . The stock had closed at $26.32 on the previous day.
The company shares have dropped -34.48% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $48.60 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $30.14 and the 200 Day Moving Average price is recorded at $20.89.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the officer (EVP – Operations) of Sm Energy Co, Vogel Herbert S had purchased shares worth of $51,840 in a transaction dated on February 26, 2016. A total of 6,000 shares were purchased at a price of $8.64 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Deutsche Bank maintains its rating on SM Energy Company (NYSE:SM).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $31 per share to $35 per share. The rating by the firm was issued on June 14, 2016. Currently the company Insiders own 1.7% of SM Energy Company shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of 9.7%.
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. Its operations are carried in four onshore operating areas in the United States: South Texas & Gulf Coast Region, which is managed from its office in Houston, Texas and has both operated and non-operated Eagle Ford shale programs; Rocky Mountain Region, which the Company operates from its office in Billings, Montana and focuses on the development and growth through acquisition of assets targeting the Bakken/Three Forks formations; Permian Region, which is managed from the Companys office in Midland, Texas and covers western Texas and southeastern New Mexico, and Mid-Continent Region, which is managed from the Companys office in Tulsa, Oklahoma and the Mid-Continent Region consists of its Haynesville and Woodford Shale assets.