SM Energy (NYSE:SM) Price Target Lowered to $38.00 at Truist Financial

SM Energy (NYSE:SM) had its target price lowered by Truist Financial from $46.00 to $38.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the energy company’s stock. Truist Financial’s target price would indicate a potential downside of 4.69% from the stock’s previous close.

Several other research analysts have also issued reports on SM. Stephens reissued an “overweight” rating and issued a $63.00 price target on shares of SM Energy in a research report on Thursday, June 27th. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company dropped their price objective on shares of SM Energy from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Tudor Pickering raised shares of SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $54.00 price target on shares of SM Energy in a research note on Tuesday, July 9th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.33.

SM Energy Stock Up 0.2 %

NYSE:SM traded up $0.06 during trading hours on Monday, reaching $39.87. The company’s stock had a trading volume of 187,534 shares, compared to its average volume of 1,758,603. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 6.25 and a beta of 4.18. SM Energy has a one year low of $34.13 and a one year high of $53.26. The business’s 50-day moving average is $43.00 and its 200-day moving average is $46.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. The business had revenue of $634.56 million during the quarter, compared to analyst estimates of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. Equities research analysts predict that SM Energy will post 7.08 EPS for the current year.

Institutional Investors Weigh In On SM Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. bought a new position in shares of SM Energy in the 1st quarter valued at about $5,614,000. Foundry Partners LLC grew its position in shares of SM Energy by 1,733.5% in the 1st quarter. Foundry Partners LLC now owns 102,307 shares of the energy company’s stock valued at $5,100,000 after acquiring an additional 96,727 shares during the period. SG Americas Securities LLC bought a new stake in shares of SM Energy during the 1st quarter worth about $710,000. Rafferty Asset Management LLC boosted its holdings in shares of SM Energy by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 198,380 shares of the energy company’s stock worth $7,681,000 after buying an additional 21,102 shares during the period. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of SM Energy by 4.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock worth $25,646,000 after buying an additional 27,405 shares during the period. 94.56% of the stock is currently owned by institutional investors and hedge funds.

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.