SM Energy (NYSE:SM) PT Lowered to $38.00

SM Energy (NYSE:SM) had its price target dropped by equities research analysts at Truist Financial from $46.00 to $38.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the energy company’s stock. Truist Financial’s target price points to a potential downside of 8.06% from the company’s current price.

Several other equities analysts also recently commented on SM. JPMorgan Chase & Co. decreased their price target on shares of SM Energy from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Mizuho reduced their price objective on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Tudor Pickering upgraded shares of SM Energy to a “strong-buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $54.00 price objective on shares of SM Energy in a research note on Tuesday, July 9th. Finally, Stephens reiterated an “overweight” rating and set a $63.00 price objective on shares of SM Energy in a research note on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SM Energy has an average rating of “Moderate Buy” and a consensus target price of $51.78.

SM Energy Price Performance

NYSE:SM opened at $41.33 on Monday. SM Energy has a one year low of $34.13 and a one year high of $53.26. The company has a market cap of $4.75 billion, a P/E ratio of 6.48 and a beta of 4.18. The firm’s fifty day moving average price is $42.80 and its two-hundred day moving average price is $46.37. 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 released its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.57 by $0.28. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The firm had revenue of $634.56 million for the quarter, compared to the consensus estimate of $616.63 million. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts expect that SM Energy will post 7.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of SM Energy by 113.9% during the 4th quarter. Parallel Advisors LLC now owns 1,281 shares of the energy company’s stock worth $50,000 after buying an additional 682 shares during the period. TD Asset Management Inc grew its position in shares of SM Energy by 116.9% during the 4th quarter. TD Asset Management Inc now owns 71,800 shares of the energy company’s stock worth $2,780,000 after buying an additional 38,700 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of SM Energy during the 4th quarter worth approximately $7,154,000. Rafferty Asset Management LLC grew its position 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, First Trust Advisors LP grew its position in SM Energy by 22.6% in the 4th quarter. First Trust Advisors LP now owns 1,077,231 shares of the energy company’s stock valued at $41,710,000 after purchasing an additional 198,473 shares during the period. 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.