SM Energy (NYSE:SM) Price Target Raised to $47.00

SM Energy (NYSE:SM) had its price objective hoisted by research analysts at Wells Fargo & Company from $43.00 to $47.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.25% from the stock’s previous close.

SM has been the topic of several other research reports. Susquehanna dropped their price target on shares of SM Energy from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 target price on shares of SM Energy in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on SM Energy from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com cut SM Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Mizuho reduced their target price on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SM Energy currently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

SM Energy Stock Performance

Shares of SM opened at $45.52 on Wednesday. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 6.36 and a beta of 4.18. The business’s fifty day simple moving average is $42.64 and its two-hundred day simple moving average is $44.75. SM Energy has a 12 month low of $34.13 and a 12 month high of $53.26. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.67.

SM Energy (NYSE:SM) last issued its earnings results on Thursday, October 31st. The energy company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.10. The company had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $643.67 million. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. Research analysts anticipate that SM Energy will post 6.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SM Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Plato Investment Management Ltd raised its holdings in shares of SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock worth $26,000 after buying an additional 485 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of SM Energy during the third quarter worth $30,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of SM Energy by 63.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock valued at $38,000 after purchasing an additional 340 shares during the period. Mather Group LLC. bought a new position in shares of SM Energy in the second quarter worth about $44,000. Finally, Blue Trust Inc. increased its stake in SM Energy by 3,434.5% in the 3rd quarter. Blue Trust Inc. now owns 1,025 shares of the energy company’s stock worth $44,000 after buying an additional 996 shares during the period. Hedge funds and other 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.