SM Energy (NYSE:SM) Shares Gap Down - Here's Why

SM Energy (NYSE:SM - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $43.48, but opened at $41.32. SM Energy shares last traded at $41.65, with a volume of 87,934 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SM shares. Wells Fargo & Company lowered their target price on SM Energy from $48.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 1st. KeyCorp decreased their target price on SM Energy from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, August 21st. StockNews.com downgraded SM Energy from a "buy" rating to a "hold" rating in a report on Friday, September 13th. Finally, TD Cowen upgraded SM Energy from a "hold" rating to a "buy" rating and lowered their target price for the company from $64.00 to $60.00 in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.73.

SM Energy Trading Down 3.6 %

The company has a market capitalization of $4.82 billion, a P/E ratio of 6.60 and a beta of 4.18. The company has a 50-day simple moving average of $42.74 and a 200 day simple moving average of $45.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29.

SM Energy (NYSE:SM - Get Free Report) last announced its earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.28. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The business had revenue of $634.56 million for the quarter, compared to analyst estimates of $616.63 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. SM Energy's revenue was up 15.2% compared to the same quarter last year. Sell-side analysts expect that SM Energy will post 7.06 earnings per share for the current year.

SM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 25th. This is a boost from SM Energy's previous quarterly dividend of $0.18. SM Energy's dividend payout ratio (DPR) is presently 12.54%.

Institutional Trading of SM Energy

Institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of SM Energy by 2.8% during the 3rd quarter. US Bancorp DE now owns 53,704 shares of the energy company's stock worth $2,147,000 after acquiring an additional 1,454 shares during the period. Congress Asset Management Co. boosted its holdings in SM Energy by 5.9% during the third quarter. Congress Asset Management Co. now owns 1,090,635 shares of the energy company's stock valued at $43,593,000 after purchasing an additional 61,009 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of SM Energy by 5.8% in the 3rd quarter. New York State Teachers Retirement System now owns 186,832 shares of the energy company's stock valued at $7,468,000 after purchasing an additional 10,243 shares during the period. Diversify Advisory Services LLC lifted its position in shares of SM Energy by 8.9% during the 3rd quarter. Diversify Advisory Services LLC now owns 338,077 shares of the energy company's stock worth $14,311,000 after buying an additional 27,519 shares during the period. Finally, abrdn plc boosted its stake in SM Energy by 6.5% in the 3rd quarter. abrdn plc now owns 466,552 shares of the energy company's stock valued at $18,650,000 after buying an additional 28,425 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company's stock.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.