SM Energy Co (SM) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 42 from a previous price target of $39 . RBC Capital Mkts advised their investors in a research report released on Oct 19, 2016.
Many Wall Street Analysts have commented on SM Energy Co. SM Energy Co was Upgraded by CapitalOne to ” Overweight” on Oct 18, 2016. Company shares were Upgraded by Scotia Howard Weil on Oct 4, 2016 to ” Sector Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $35 .SM Energy Co was Upgraded by Seaport Global Securities to ” Buy” on Aug 30, 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 closed down -1.24 points or -3.09% at $38.9 with 23,06,196 shares getting traded on Friday. Post opening the session at $40.42, the shares hit an intraday low of $38.581 and an intraday high of $40.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Oct 3, 2016, Kenneth J. Knott (SVP-Bus Dv & Land & Asst Sec) sold 661 shares at $40.00 per share price. According to the SEC, on Mar 1, 2016, Herbert S Vogel (EVP – Operations) purchased 6,000 shares at $8.64 per share price. On Mar 1, 2016, Javan D Ottoson (CEO) purchased 2,500 shares at $9.00 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.