SM Energy (NYSE:SM) Rating Reiterated by Royal Bank of Canada

SM Energy (NYSE:SM)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $54.00 target price on the energy company’s stock. Royal Bank of Canada’s price target points to a potential upside of 19.15% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Mizuho upped their price objective on shares of SM Energy from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Stephens reiterated an “overweight” rating and set a $63.00 price target on shares of SM Energy in a research note on Thursday, June 27th. Truist Financial lowered their price objective on SM Energy from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Monday. Susquehanna increased their price target on SM Energy from $42.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their target price on shares of SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.89.

SM Energy Stock Performance

Shares of SM stock opened at $45.32 on Wednesday. SM Energy has a fifty-two week low of $29.51 and a fifty-two week high of $53.26. The stock’s 50-day moving average is $48.11 and its two-hundred day moving average is $44.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $5.21 billion, a P/E ratio of 7.10 and a beta of 4.20.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The firm had revenue of $559.87 million for the quarter, compared to the consensus estimate of $568.21 million. SM Energy had a return on equity of 20.10% and a net margin of 31.80%. Analysts predict that SM Energy will post 6.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Kenneth J. Knott sold 16,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $50.28, for a total value 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 $5,756,808.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC bought a new position in shares of SM Energy during the 4th quarter worth approximately $2,992,000. Miller Howard Investments Inc. NY bought a new position in shares of SM Energy during the fourth quarter valued at $3,373,000. Tributary Capital Management LLC boosted its stake in shares of SM Energy by 27.3% in the 4th quarter. Tributary Capital Management LLC now owns 574,120 shares of the energy company’s stock valued at $22,230,000 after purchasing an additional 123,126 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of SM Energy by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,593,103 shares of the energy company’s stock worth $61,685,000 after purchasing an additional 64,781 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in SM Energy by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 198,380 shares of the energy company’s stock valued at $7,681,000 after purchasing an additional 21,102 shares during 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.