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Recent Insider Activity Could Benefit SM Energy Co (SM)

SM Energy Co’s recent filing unveils that its SVP – Bus Dev & Land Knott Kenneth J. unloaded Company’s shares for reported $0.8 million on May 21 ’24. In the deal valued at $50.28 per share,16,000 shares were sold. As a result of this transaction, Knott Kenneth J. now holds 114,495 shares worth roughly $5.07 million.

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Then, SULLIVAN WILLIAM D sold 60,000 shares, generating $2,959,200 in total proceeds. Upon selling the shares at $49.32, the Director now owns 89,157 shares.

Before that, Lutey Mary Ellen sold 43,506 shares. SM Energy Co shares valued at $1,936,017 were divested by the SVP – Expl., Development & EHS at a price of $44.50 per share. As a result of the transaction, Lutey Mary Ellen now holds 12,472 shares, worth roughly $0.55 million.

Truist initiated its SM Energy Co [SM] rating to a Hold in a research note published on June 25, 2024; the price target was $51. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in late June with a ‘”an Overweight”‘ rating. Seaport Research Partners also remained covering SM and has increased its forecast on January 31, 2024 with a “Buy” recommendation from previously “Neutral” rating. Wells Fargo started covering the stock on November 15, 2023. It rated SM as “an Equal weight”.

Price Performance Review of SM

On Monday, SM Energy Co [NYSE:SM] saw its stock jump 1.42% to $44.25. Over the last five days, the stock has gained 2.36%. SM Energy Co shares have risen nearly 14.28% since the year began. Nevertheless, the stocks have risen 46.62% over the past one year. While a 52-week high of $53.26 was reached on 04/05/24, a 52-week low of $29.51 was recorded on 01/17/24. SMA at 50 days reached $48.07, while 200 days put it at $42.74. A total of 1.53 million shares were traded, compared to the trading of 0.94 million shares in the previous session.

Levels Of Support And Resistance For SM Stock

The 24-hour chart illustrates a support level at 43.74, which if violated will result in even more drops to 43.23. On the upside, there is a resistance level at 44.65. A further resistance level may holdings at 45.05. The Relative Strength Index (RSI) on the 14-day chart is 41.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.72, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.50%. Stochastics%K at 23.48% indicates the stock is a holding.

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