SM Energy (NYSE:SM – Get Free Report) had its target price reduced by equities research analysts at Wells Fargo & Company from $51.00 to $50.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.91% from the stock’s current price.
Other research analysts have also issued research reports about the company. KeyCorp increased their price objective on SM Energy from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Mizuho lifted their price target on shares of SM Energy from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $54.00 price objective on shares of SM Energy in a report on Tuesday, July 9th. Truist Financial cut their target price on shares of SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Finally, StockNews.com raised SM Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, SM Energy has an average rating of “Moderate Buy” and a consensus target price of $54.44.
Check Out Our Latest Research Report on SM
SM Energy Trading Up 0.7 %
SM Energy stock opened at $45.91 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. SM Energy has a 12 month low of $34.13 and a 12 month high of $53.26. The company’s fifty day simple moving average is $46.79 and its 200-day simple moving average is $45.34. The stock has a market cap of $5.28 billion, a P/E ratio of 7.20 and a beta of 4.20.
SM Energy (NYSE:SM – Get Free Report) last posted its earnings results on Thursday, May 2nd. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. The company had revenue of $559.87 million during the quarter, compared to the consensus estimate of $568.21 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. As a group, sell-side analysts forecast that SM Energy will post 7.09 EPS for the current fiscal year.
Insider Activity
In related news, SVP Kenneth J. Knott sold 16,000 shares of SM Energy stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $50.28, for a total transaction of $804,480.00. Following the completion of the transaction, the senior vice president now directly owns 114,495 shares of the company’s stock, valued at approximately $5,756,808.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On SM Energy
Several institutional investors have recently bought and sold shares of the business. Jump Financial LLC acquired a new stake in shares of SM Energy in the fourth quarter valued at $2,992,000. Miller Howard Investments Inc. NY acquired a new stake in SM Energy in the 4th quarter valued at about $3,373,000. Jupiter Asset Management Ltd. bought a new position in shares of SM Energy in the first quarter worth about $5,614,000. Foundry Partners LLC lifted its position in shares of SM Energy by 1,733.5% during the first quarter. Foundry Partners LLC now owns 102,307 shares of the energy company’s stock worth $5,100,000 after purchasing an additional 96,727 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SM Energy by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,593,103 shares of the energy company’s stock valued at $61,685,000 after purchasing an additional 64,781 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.
SM Energy Company Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.
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Source: defenseworld.net
