Sm Energy EVP sells over $200k in company stock By Investing.com

SM Energy Co’s (NYSE:) Executive Vice President and General Counsel, James Barker Lebeck, has recently sold a significant amount of company stock, according to the latest filings. The transaction, which took place on August 16, involved the sale of 4,487 shares at an average price of $45.43 per share, totaling approximately $203,844.

The shares were sold in multiple transactions with prices ranging from $45.42 to $45.47. Following the sale, Lebeck’s remaining ownership in the company stands at 256 shares of common stock. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, dated August 20.

SM Energy, an energy company engaged in the exploration and production of crude petroleum and , has seen its stock price fluctuate in recent months amidst the dynamic energy market. The sale by a high-ranking executive may draw the attention of investors, as insider transactions are often closely monitored for insights into a company’s performance and the confidence of its management team.

Investors and analysts tracking SM Energy will continue to watch for any further insider transactions that could signal shifts in the company’s strategic direction or financial health. The details of the sale, including the specific prices and the remaining shares owned by Lebeck, have been made available upon request to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.

In other recent news, SM Energy Co has issued $1.5 billion in senior notes, with the proceeds expected to be used for general corporate purposes and the redemption of existing notes. The company has also amended its credit agreement to facilitate the acquisition of oil and gas assets in the Uinta Basin from XCL AssetCo. This strategic move is backed by Wells Fargo Bank, National Association, and other lenders.

Analysts have been closely monitoring these developments. Truist Securities adjusted its price target for SM Energy to $49.00, maintaining a Hold rating. RBC Capital Markets upheld its Sector Perform rating, maintaining a $54.00 price target. BMO Capital also maintained its Market Perform rating, projecting significant enhancements to Free Cash Flow Per Share, Earnings Per Share, and Cash Flow Per Share due to the company’s venture into the Uinta Basin.

Roth/MKM kept its Buy rating on SM Energy, suggesting the company’s estimated production of approximately 195,000 barrels of oil equivalent per day may be conservative. These are recent developments that reflect SM Energy’s ongoing efforts to maintain stable production levels and implement operational efficiencies.

InvestingPro Insights

As investors digest the news of the recent insider sale at SM Energy Co (NYSE:SM), it’s important to consider the company’s financial health and market performance for a comprehensive understanding. According to InvestingPro, SM Energy’s market capitalization stands at a robust $5.06 billion, reflecting its significant presence in the energy sector.

One notable InvestingPro Tip for SM Energy is that analysts have recently revised their earnings expectations upwards for the upcoming period. This optimism from analysts could be a signal of potential growth and a positive outlook for the company’s financial performance. Additionally, SM Energy has a track record of maintaining dividend payments for an impressive 32 consecutive years, indicating a commitment to shareholder returns even amidst market volatility.

InvestingPro Data further reveals that SM Energy operates with a moderate level of debt and a price-to-earnings (P/E) ratio of 6.33, which has slightly adjusted to 6.23 over the last twelve months as of Q2 2024. The company’s revenue growth for the same quarter was reported at 10.28%, showcasing a strong quarterly performance. Moreover, the gross profit margin stands at a healthy 82.73%, pointing to efficient operations and cost management.

For investors looking for additional insights, there are more InvestingPro Tips available, including the company’s profitability over the last twelve months and a strong return over the last five years. These metrics, combined with a dividend yield of 1.58% and a fair value estimation by InvestingPro at $57.9, suggest that SM Energy could be an intriguing option for those seeking stability and potential growth in the energy sector.

With the next earnings date approaching on October 31, 2024, stakeholders are keen to see if the company’s strategic moves will align with the positive indicators reflected in the InvestingPro analysis. Interested parties can access a total of 7 additional InvestingPro Tips to gain deeper insights into SM Energy’s market prospects.

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