Could SM Energy Co (SM) See a Reversal After Having Formed Several Months Wedge Down

July 17, 2017 - By reb123z

Investors sentiment increased to 2.06 in Q4 2016. Its up 0.02, from 2.04 in 2016Q3. It is positive, as 27 investors sold SM Energy Co shares while 58 reduced holdings. 58 funds opened positions while 117 raised stakes. 97.77 million shares or 14.16% more from 85.64 million shares in 2016Q3 were reported.
Bokf Na has invested 0.02% in SM Energy Co (NYSE:SM). Ameriprise Financial holds 0.03% or 1.43 million shares. Aqr Capital Mngmt Llc has 78,255 shares. 13,551 are held by Menta Capital Ltd. Retirement Sys Of Alabama holds 124,446 shares. Palisade Mgmt Ltd Liability Com Nj reported 0.5% stake. The Pennsylvania-based Commonwealth Of Pennsylvania Public School Empls Retrmt Systems has invested 0.01% in SM Energy Co (NYSE:SM). Luminus Management Ltd owns 125,000 shares. Oakbrook Ltd holds 0.02% of its portfolio in SM Energy Co (NYSE:SM) for 9,050 shares. Parkwood Ltd Liability accumulated 0.11% or 20,000 shares. State Of New Jersey Common Pension Fund D owns 30,000 shares. Kcg holds 34,170 shares. South Africa-based Old Mutual Customised Solutions (Proprietary) Ltd has invested 0.03% in SM Energy Co (NYSE:SM). 12,129 are held by Meeder Asset. Vr Advisory owns 225,000 shares.

Since February 27, 2017, it had 14 insider purchases, and 0 insider sales for $2.00 million activity. Vogel Herbert S bought $21,835 worth of stock. Shares for $35,094 were bought by PERU RAMIRO G on Wednesday, March 8. 5,000 shares were bought by Ottoson Javan D, worth $126,100 on Monday, February 27. Shares for $252,200 were bought by Copeland David W. $491,800 worth of SM Energy Co (NYSE:SM) shares were bought by Quintana Julio M. Another trade for 1,000 shares valued at $23,355 was made by ROBESON ROSE M on Wednesday, March 8. SULLIVAN WILLIAM D also bought $256,902 worth of SM Energy Co (NYSE:SM) shares.

The stock of SM Energy Co (SM) formed a down wedge with $16.32 target or 5.00 % below today’s $17.18 share price. The 8 months wedge indicates high risk for the $1.90B company. If the $16.32 price target is reached, the company will be worth $95.00 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 1.82M shares traded. SM Energy Co (NYSE:SM) has declined 24.40% since July 17, 2016 and is downtrending. It has underperformed by 41.10% the S&P500.

Analysts await SM Energy Co (NYSE:SM) to report earnings on August, 1. They expect $-0.30 EPS, up 31.82 % or $0.14 from last year’s $-0.44 per share. After $0.18 actual EPS reported by SM Energy Co for the previous quarter, Wall Street now forecasts -266.67 % negative EPS growth.

SM Energy Co (NYSE:SM) Ratings Coverage

Among 21 analysts covering SM Energy (NYSE:SM), 12 have Buy rating, 0 Sell and 9 Hold. Therefore 57% are positive. SM Energy had 53 analyst reports since July 21, 2015 according to SRatingsIntel. Howard Weil upgraded it to “Sector Outperform” rating and $48 target in Tuesday, October 4 report. As per Monday, November 2, the company rating was upgraded by Guggenheim. The rating was upgraded by PiperJaffray to “Overweight” on Monday, August 15. The firm earned “Hold” rating on Wednesday, April 6 by Stifel Nicolaus. The company was maintained on Thursday, August 4 by Barclays Capital. Williams Capital Group maintained the stock with “Buy” rating in Tuesday, June 6 report. The rating was initiated by Williams Capital Group on Monday, August 29 with “Buy”. The rating was downgraded by Guggenheim to “Neutral” on Thursday, April 21. The firm earned “Neutral” rating on Thursday, May 11 by Bank of America. The firm earned “Sector Perform” rating on Thursday, February 25 by RBC Capital Markets.

More news for SM Energy Co (NYSE:SM) were recently published by: Nasdaq.com, which released: “FPA Capital Fund Buys Allegiant Travel Co, SM Energy Co, Foot Locker Inc …” on July 08, 2017. Nasdaq.com‘s article titled: “Cpcm, Llc Buys Zions Bancorp, SM Energy Co, PowerShares QQQ Trust Series 1 …” and published on June 19, 2017 is yet another important article.

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