SM Energy Co (SM) was Upgraded by Scotia Howard Weil to ” Sector Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 48 from a previous price target of $35 . Earlier the firm had a rating of “Sector Perform ” on the company shares. Scotia Howard Weil advised their investors in a research report released on Oct 4, 2016.
Many Wall Street Analysts have commented on SM Energy Co. SM Energy Co was Upgraded by Seaport Global Securities to ” Buy” on Aug 30, 2016. Williams Capital Group Initiated SM Energy Co on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $57.SM Energy Co was Upgraded by Piper Jaffray to ” Overweight” on Aug 15, 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 -0.91 points or -2.30% at $38.58 with 37,58,638 shares getting traded on Friday. Post opening the session at $39.71, the shares hit an intraday low of $38.52 and an intraday high of $40.256 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Investors should note that on Sep 23, 2016, SM Energy Co announced a cash dividend of $0.0500. The company’s management has announced Oct 19, 2016 as the ex-dividend date and fixed the record date on Oct 21, 2016. The payable date has been fixed on Nov 2, 2016.
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.