SM Energy Co (SM) Stake Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp trimmed its stake in shares of SM Energy Co (NYSE:SM) by 22.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,848,081 shares of the energy company’s stock after selling 538,593 shares during the quarter. Bank of New York Mellon Corp’s holdings in SM Energy were worth $58,271,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd bought a new stake in shares of SM Energy during the 2nd quarter worth $109,000. IFP Advisors Inc lifted its position in shares of SM Energy by 340.7% during the 3rd quarter. IFP Advisors Inc now owns 4,341 shares of the energy company’s stock worth $137,000 after buying an additional 3,356 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of SM Energy by 50.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,685 shares of the energy company’s stock worth $199,000 after buying an additional 2,570 shares during the last quarter. Oakbrook Investments LLC bought a new stake in shares of SM Energy during the 3rd quarter worth $337,000. Finally, Radnor Capital Management LLC lifted its position in shares of SM Energy by 18.7% during the 3rd quarter. Radnor Capital Management LLC now owns 13,950 shares of the energy company’s stock worth $440,000 after buying an additional 2,200 shares during the last quarter.
SM has been the subject of several recent analyst reports. Zacks Investment Research upgraded SM Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, October 9th. Scotiabank upgraded SM Energy from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 27th. Wells Fargo & Co upgraded SM Energy from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Tuesday, October 23rd. Seaport Global Securities upgraded SM Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $34.00 in a research report on Monday, December 10th. Finally, Howard Weil raised SM Energy from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.33.
SM Energy (NYSE:SM) last issued its quarterly earnings results on Thursday, November 1st. The energy company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.17). The company had revenue of $459.37 million during the quarter, compared to analyst estimates of $429.63 million. SM Energy had a net margin of 8.56% and a return on equity of 0.59%. The company’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) EPS. As a group, research analysts forecast that SM Energy Co will post 0.23 earnings per share for the current fiscal year.
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SM Energy Company Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the Midland Basin and the Eagle Ford shale in Texas. As of December 31, 2017, the company had 468.1 million barrels of oil equivalent of estimated proved reserves; and working interests in 919 net productive oil wells and 489 net productive gas wells.
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