KLR Group Upgrades SM Energy Co to Buy

Brokerage firm KLR Group Upgrades its rating on SM Energy Co(NYSE:SM). The shares have been rated Buy. Previously, the analysts had a Accumulate rating on the shares. The rating by KLR Group was issued on Aug 9, 2016.

In a different note, On Aug 4, 2016, Barclays said it Maintains its rating on SM Energy Co. In the research note, the firm Raises the price-target to $32.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 14, 2016, Deutsche Bank said it Maintains its rating on SM Energy Co. In the research note, the firm Raises the price-target to $31.00 per share. The shares have been rated ‘Hold’ by the firm.

SM Energy Co (SM) made into the market gainers list on Wednesdays trading session with the shares advancing 0.81% or 0.28 points. Due to strong positive momentum, the stock ended at $34.88, which is also near the day’s high of $34.95. The stock began the session at $34.42 and the volume stood at 30,41,631 shares. The 52-week high of the shares is $42.23 and the 52 week low is $6.99. The company has a current market capitalization of $2,388 M and it has 6,84,66,823 shares in outstanding.

SM Energy Co(SM) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $341.81M. Analysts had an estimated revenue of $328.18M. Earnings per share were $-0.44. Analysts had estimated an EPS of $-0.75.

Several Insider Transactions has been reported to the SEC. On Mar 1, 2016, Herbert S Vogel (EVP – Operations) purchased 6,000 shares at $8.64 per share price.Also, On Mar 1, 2016, Javan D Ottoson (CEO) purchased 2,500 shares at $9.00 per share price.On Dec 9, 2015, David W Copeland (EVP, GC & Corp. Sec.) purchased 10,000 shares at $23.04 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 Company’s office in Midland Texas and covers western Texas and southeastern New Mexico and Mid-Continent Region which is managed from the Company’s office in Tulsa Oklahoma and the Mid-Continent Region consists of its Haynesville and Woodford Shale assets.

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