SM Energy (NYSE:SM) Price Target Raised to $57.00

SM Energy (NYSE:SM) had its price target increased by Stephens from $56.00 to $57.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Wells Fargo & Company decreased their price target on SM Energy from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price objective on SM Energy from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen raised shares of SM Energy from a “hold” rating to a “buy” rating and decreased their target price for the company from $64.00 to $60.00 in a research report on Tuesday, October 15th. Finally, Truist Financial dropped their price target on shares of SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.18.

SM Energy Price Performance

Shares of SM opened at $40.28 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.61 billion, a PE ratio of 5.63 and a beta of 4.18. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The business has a 50-day simple moving average of $42.43 and a two-hundred day simple moving average of $45.27.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. SM Energy had a net margin of 33.89% and a return on equity of 20.07%. The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $643.67 million. During the same quarter last year, the business earned $1.73 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Analysts anticipate that SM Energy will post 7.05 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 represents a $0.80 dividend on an annualized basis and a yield of 1.99%. This is a boost from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, October 25th. SM Energy’s dividend payout ratio (DPR) is presently 11.17%.

Hedge Funds Weigh In On SM Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norden Group LLC acquired a new position in SM Energy during the 1st quarter worth approximately $477,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SM Energy by 6.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,932 shares of the energy company’s stock worth $3,287,000 after purchasing an additional 3,768 shares in the last quarter. Janney Montgomery Scott LLC grew its position in SM Energy by 9.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,434 shares of the energy company’s stock valued at $470,000 after purchasing an additional 813 shares during the period. Capstone Investment Advisors LLC bought a new stake in SM Energy during the 1st quarter valued at $428,000. Finally, Fidelis Capital Partners LLC acquired a new position in SM Energy during the first quarter worth $51,000. 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.