SM Energy Company (SM) : Traders are bullish on SM Energy Company (SM) as it has outperformed the S&P 500 by a wide margin of 14.45% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.54%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8% in the last 1 week, and is up 17.29% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
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 $28.94 and $27.87 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.39. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.30, notching a gain of 2.02% for the day. The total traded volume was 3,113,689 . The stock had closed at $28.72 on the previous day.
The stock has recorded a 20-day Moving Average of 10.99% and the 50-Day Moving Average is 3.6%. SM Energy Company is up 0.9% in the last 3-month period. Year-to-Date the stock performance stands at 49.32%.
SM Energy Company (SM) : The highest level SM Energy Company (SM) is projected to reach is $52 for the short term and the lowest estimate is at $16. The consolidated price target from 12 rating analysts who initiate coverage on the stock is $34 and the possibility the share price can swing is $9.13.
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.