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

SM Energy (NYSE:SM) had its price target lowered by research analysts at Wells Fargo & Company from $45.00 to $33.00 in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.16% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Truist Financial upped their target price on SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Williams Trading set a $41.00 price objective on SM Energy in a research note on Wednesday, March 5th. Mizuho decreased their target price on SM Energy from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Raymond James dropped their price target on shares of SM Energy from $59.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

SM Energy Trading Up 0.9 %

SM Energy stock opened at $30.80 on Tuesday. SM Energy has a 52-week low of $26.66 and a 52-week high of $53.26. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 4.61 and a beta of 4.14. The firm has a 50-day moving average price of $35.23 and a two-hundred day moving average price of $39.54.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). SM Energy had a return on equity of 19.82% and a net margin of 28.63%. The business had revenue of $852.22 million during the quarter, compared to the consensus estimate of $849.44 million. Sell-side analysts expect that SM Energy will post 8.1 earnings per share for the current year.

Insiders Place Their Bets

In other SM Energy news, Director Barton R. Brookman, Jr. bought 7,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of $32.36 per share, with a total value of $226,520.00. Following the purchase, the director now directly owns 14,666 shares in the company, valued at $474,591.76. The trade was a 91.31 % increase in their position. The acquisition 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gallacher Capital Management LLC grew its holdings in shares of SM Energy by 4.5% during the 4th quarter. Gallacher Capital Management LLC now owns 8,206 shares of the energy company’s stock valued at $318,000 after acquiring an additional 350 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of SM Energy by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,970 shares of the energy company’s stock valued at $464,000 after buying an additional 379 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in SM Energy by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 97,800 shares of the energy company’s stock worth $3,791,000 after buying an additional 400 shares during the last quarter. Quantinno Capital Management LP raised its position in SM Energy by 6.4% during the fourth quarter. Quantinno Capital Management LP now owns 6,718 shares of the energy company’s stock valued at $260,000 after acquiring an additional 402 shares in the last quarter. Finally, National Bank of Canada FI grew its position in SM Energy by 7.6% in the fourth quarter. National Bank of Canada FI now owns 6,975 shares of the energy company’s stock worth $270,000 after acquiring an additional 492 shares in the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

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.