SM Energy Co (SM) was Reiterated by Barclays to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 40 from a previous price target of $32 . Barclays advised their investors in a research report released on Aug 4, 2016.
On the company’s financial health, SM Energy Co reported $-0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.68. The company had revenue of $341.80 million for the quarter, compared to analysts expectations of $344.82 million. The company’s revenue was down -33.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.
SM Energy Co opened for trading at $25.73 and hit $26.31 on the upside on Tusday, eventually ending the session at $26.21, with a gain of 4.05% or 1.02 points. The heightened volatility saw the trading volume jump to 28,04,913 shares. Company has a market cap of $1,784 M.
In a different news, on Mar 1, 2016, Herbert S Vogel (EVP – Operations) purchased 6,000 shares at $8.64 per share price. According to the SEC, on Mar 1, 2016, Javan D Ottoson (CEO) purchased 2,500 shares at $9.00 per share price. On Dec 9, 2015, David W Copeland (EVP, GC & Corp. Sec.) purchased 10,000 shares at $23.04 per share price, according to the Form-4 filing with the securities and exchange commission.
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.