SM Energy Company (NYSE: SM): What’s Next After The Stock Plunge?

The trading price of SM Energy Company (NYSE:SM) closed higher on Tuesday, August 23, closing at $45.16, 4.25% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $44.29 and $46.99. The company’s P/E ratio in the trailing 12-month period was 6.72, while its 5Y monthly beta was 4.95. In examining the 52-week price action we see that the stock hit a 52-week high of $54.97 and a 52-week low of $16.07. Over the past month, the stock has gained 23.02% in value.

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SM Energy Company, whose market valuation is $5.69 billion at the time of this writing, is expected to release its quarterly earnings report Oct 26, 2022 – Oct 31, 2022. The dividend yield on the company stock is 0.04%, while its Forward Dividend ratio is 0.02. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $2.11 per share this quarter, however they have predicted annual earnings per share of $8.61 for 2022 and $10.13 for 2023. It means analysts are expecting annual earnings per share growth of 365.40% this year and 17.70% next year.

Analysts have forecast the company to bring in revenue of $787.32 million for the current quarter, with the likely lows of $689.21 million and highs of $974 million. The average estimate suggests sales will likely up by 39.60% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $3.15 billion. The company’s revenue is forecast to grow by 20.20% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of SM Energy Company No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest SM has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 100% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned SM a recommendation rating is 12. Out of them, 4 rate it a Hold, while 5 recommend Buy, whereas 2 assign an Overweight rating. 0 analyst(s) have tagged SM Energy Company (SM) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0.08, which symbolizes a positive outlook. A quick review shows that SM’s price is currently 13.41% off the SMA20 and 18.58% off the SMA50. The RSI metric on the 14-day chart is currently showing 66.24, and weekly volatility stands at 5.25%. When measured over the past 30 days, the indicator reaches 5.77%. SM Energy Company (NYSE:SM)’s beta value is currently sitting at 4.90, while the Average True Range indicator is currently displaying 2.49. With analysts defining $40.00-$80.00 as the low and high price targets, we arrive at a consensus price target of $58.25 for the trailing 12-month period. The current price is about 11.43% off the estimated low and -77.15% off the forecast high, based on this estimate. Investors will be thrilled if SM’s share price rises to $55.00, which is the median consensus price. At that level, SM’s share price would be -21.79% below current price.

To see how SM Energy Company stock has been performing in comparison to its peers in the industry, here are the numbers: SM stock’s performance was 4.25% in the latest trading, and 171.72% in the past year. Another comparable company Range Resources Corporation (RRC) saw its stock close -3.08% lower in the most recent trading session but was up 166.93% in a year. SM Energy Company has a P/E ratio of 6.72. Also in last trading session, the S&P 500 Index has plunged -0.22%, while the Dow Jones Industrial also saw a negative session, down -0.47% on the day.

An evaluation of the daily trading volume of SM Energy Company (NYSE:SM) indicates that the 3-month average is 2.21 million. However, this figure has increased over the past 10 days to an average of 1.49 million.

Currently, records show that 121.91 million of the company’s shares remain outstanding. The insiders hold 1.50% of outstanding shares, whereas institutions hold 92.60%. The stats also highlight that short interest as of Jul 14, 2022, stood at 5.15 million shares, resulting in a short ratio of 1.88 at that time. From this, we can conclude that short interest is 4.23% of the company’s total outstanding shares. It is noteworthy that short shares in July were up slightly from the previous month’s figure, which was 4.72 million. However, since the stock’s price has seen 53.19% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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