SM Energy (NYSE:SM) Price Target Lowered to $43.00 at Wells Fargo & Company

SM Energy (NYSE:SM) had its target price cut by Wells Fargo & Company from $48.00 to $43.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

SM has been the subject of several other research reports. Stephens restated an overweight rating and set a $63.00 target price on shares of SM Energy in a report on Thursday, June 27th. StockNews.com lowered SM Energy from a buy rating to a hold rating in a report on Friday, September 13th. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a hold rating to a buy rating in a research note on Wednesday, August 21st. Truist Financial lowered their target price on shares of SM Energy from $46.00 to $38.00 and set a hold rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $54.00 price target on shares of SM Energy in a research note on Tuesday, July 9th. Six 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’s stock. According to data from MarketBeat.com, SM Energy currently has an average rating of Moderate Buy and an average price target of $51.40.

SM Energy Trading Up 2.2 %

NYSE SM opened at $45.08 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50-day moving average is $42.72 and its 200-day moving average is $46.33. SM Energy has a one year low of $34.13 and a one year high of $53.26. The firm has a market cap of $5.18 billion, a P/E ratio of 7.07 and a beta of 4.18.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The business had revenue of $634.56 million for 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 quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $1.28 earnings per share. Sell-side analysts anticipate that SM Energy will post 7.08 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be issued 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 yield of 1.77%. The ex-dividend date is Friday, October 25th. SM Energy’s dividend payout ratio is currently 12.54%.

Institutional Trading of SM Energy

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of SM Energy by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock valued at $274,161,000 after acquiring an additional 384,675 shares during the period. American Century Companies Inc. increased its stake in SM Energy by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 2,361,149 shares of the energy company’s stock worth $102,072,000 after acquiring an additional 28,005 shares during the period. Westwood Holdings Group Inc. raised its holdings in SM Energy by 10.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,709,927 shares of the energy company’s stock valued at $73,920,000 after acquiring an additional 157,923 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of SM Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,335,624 shares of the energy company’s stock valued at $57,739,000 after acquiring an additional 4,611 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its position in SM Energy by 929.6% during the second quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock worth $50,125,000 after purchasing an additional 1,046,872 shares during the period. 94.56% of the stock is currently owned by 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.