SM Energy Co (SM) Releases Earnings Results, Beats Expectations By $0.24 EPS

SM Energy Co (SM) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $-0.44 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.24. Analysts had a consensus of $-0.68. The company posted revenue of $341.80 million in the period, 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.

Many Wall Street Analysts have commented on SM Energy Co. Company shares were Reiterated by Barclays on May 6, 2016 to “Overweight”, Firm has raised the Price Target to $ 32 from a previous price target of $23 .

SM Energy Co opened for trading at $25.2 and hit $27.1901 on the upside on Friday, eventually ending the session at $27.13, with a gain of 4.83% or 1.25 points. The heightened volatility saw the trading volume jump to 19,72,011 shares. Company has a market cap of $1,847 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 Company’s office in Midland Texas and covers western Texas and southeastern New Mexico and Mid-Continent Region which is managed from the Company’s office in Tulsa Oklahoma and the Mid-Continent Region consists of its Haynesville and Woodford Shale assets.

SM Energy Co

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