Truist Financial Cuts SM Energy (NYSE:SM) Price Target to $49.00

SM Energy (NYSE:SM) had its target price cut by equities researchers at Truist Financial from $51.00 to $49.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the energy company’s stock. Truist Financial’s price objective suggests a potential upside of 10.48% from the company’s previous close.

A number of other research firms have also recently commented on SM. Susquehanna lifted their target price on SM Energy from $42.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Wells Fargo & Company raised their price target on SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. KeyCorp raised their price target on SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. raised their price target on SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Mizuho raised their price target on SM Energy from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.89.

SM Energy Stock Up 1.6 %

SM opened at $44.35 on Monday. The business’s 50-day simple moving average is $48.31 and its 200-day simple moving average is $44.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. SM Energy has a one year low of $29.51 and a one year high of $53.26. The stock has a market capitalization of $5.10 billion, a P/E ratio of 6.95 and a beta of 4.20.

SM Energy (NYSE:SM) last posted its earnings results on Thursday, May 2nd. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. SM Energy had a return on equity of 20.10% and a net margin of 31.80%. The business had revenue of $559.87 million for the quarter, compared to analysts’ expectations of $568.21 million. Analysts anticipate that SM Energy will post 6.69 EPS for the current year.

Insider Buying and Selling at SM Energy

In other news, SVP Kenneth J. Knott sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $50.28, for a total transaction of $804,480.00. Following the sale, the senior vice president now owns 114,495 shares of the company’s stock, valued at approximately $5,756,808.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SM Energy

Several institutional investors have recently modified their holdings of SM. Dimensional Fund Advisors LP raised its position in shares of SM Energy by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,509,379 shares of the energy company’s stock worth $213,326,000 after purchasing an additional 493,427 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SM Energy by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,593,103 shares of the energy company’s stock worth $61,685,000 after purchasing an additional 64,781 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of SM Energy by 20.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,552,004 shares of the energy company’s stock worth $77,367,000 after purchasing an additional 258,733 shares during the last quarter. American Century Companies Inc. raised its position in shares of SM Energy by 5.7% during the 3rd quarter. American Century Companies Inc. now owns 1,547,315 shares of the energy company’s stock worth $61,351,000 after purchasing an additional 83,588 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of SM Energy by 44.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,163,332 shares of the energy company’s stock worth $46,126,000 after purchasing an additional 358,253 shares during the last quarter. Hedge funds and other 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.