Wells Fargo & Company Has Lowered Expectations for SM Energy (NYSE:SM) Stock Price

SM Energy (NYSE:SM) had its price objective cut by Wells Fargo & Company from $47.00 to $45.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

A number of other equities research analysts have also recently issued reports on SM. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $53.00 price objective (up previously from $51.00) on shares of SM Energy in a research note on Wednesday, December 4th. StockNews.com lowered SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. TD Cowen upgraded SM Energy from a “hold” rating to a “buy” rating and reduced their target price for the stock from $64.00 to $60.00 in a research note on Tuesday, October 15th. Tudor Pickering upgraded shares of SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Susquehanna cut their target price on shares of SM Energy from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.64.

SM Energy Stock Performance

SM opened at $38.88 on Tuesday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 5.43 and a beta of 4.14. The business’s 50-day moving average price is $42.95 and its two-hundred day moving average price is $43.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.52 and a quick ratio of 3.52. SM Energy has a 1 year low of $34.76 and a 1 year high of $53.26.

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

SM Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were paid a $0.20 dividend. This is a boost from SM Energy’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, October 25th. SM Energy’s payout ratio is 11.17%.

Hedge Funds Weigh In On SM Energy

A number of hedge funds have recently added to or reduced their stakes in SM. Plato Investment Management Ltd raised its stake in SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after purchasing an additional 485 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of SM Energy during the 3rd quarter worth approximately $30,000. Blue Trust Inc. increased its stake in SM Energy by 3,434.5% in the third quarter. Blue Trust Inc. now owns 1,025 shares of the energy company’s stock valued at $44,000 after acquiring an additional 996 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in SM Energy during the third quarter valued at approximately $55,000. Finally, International Assets Investment Management LLC raised its holdings in shares of SM Energy by 3,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company’s stock worth $58,000 after buying an additional 1,403 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.

About SM Energy

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.