Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SM Energy Co shares valued at $804,480 were sold by Knott Kenneth J. on May 21 ’24. At $50.28 per share, Knott Kenneth J. sold 16,000 shares. The insider’s holdings dropped to 114,495 shares worth approximately $5.22 million following the completion of this transaction.
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Also, SULLIVAN WILLIAM D sold 60,000 shares, netting a total of over 2,959,200 in proceeds. Following the sale of shares at $49.32 each, the insider now holds 89,157 shares.
Before that, Lutey Mary Ellen had sold 43,506 shares from its account. In a trade valued at $1,936,017, the SVP – Expl., Development & EHS traded SM Energy Co shares for $44.50 each. Upon closing the transaction, the insider’s holdings decreased to 43,506 shares, worth approximately $0.57 million.
As published in their initiating research note from Truist on June 25, 2024, SM Energy Co [SM] has been a Hold and the price target has been revised to $51. Analysts at Stephens started covering the stock with ‘”an Overweight”‘ outlook in a report released in late June. As of January 31, 2024, Seaport Research Partners has increased its “Neutral” rating to a “Buy” for SM. Earlier on November 15, 2023, Wells Fargo initiated its rating. Their recommendation was “an Equal weight” for SM stock.
Analyzing SM Stock Performance
During the last five days, there has been a drop of approximately -3.51%. Over the course of the year, SM Energy Co shares have jumped approximately 17.77%. Shares of the company reached a 52-week high of $53.26 on 04/05/24 and a 52-week low of $34.76 on 01/17/24. A 50-day SMA is recorded $46.97, while a 200-day SMA reached $43.22. Nevertheless, trading volume fell to 1.78 million shares from 1.54 million shares the previous day.
Support And Resistance Levels for SM Energy Co (SM)
According to the 24-hour chart, there is a support level at 44.46, which, if violated, would cause prices to drop to 43.33. In the upper region, resistance lies at 46.32. The next price resistance is at 47.05. RSI (Relative Strength Index) is 48.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 56.34%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.