SM Energy (NYSE:SM) Price Target Lowered to $40.00 at Raymond James

SM Energy (NYSE:SM) had its price target reduced by Raymond James from $59.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Raymond James’ price target points to a potential upside of 44.83% from the stock’s current price.

SM has been the subject of a number of other reports. Stephens reiterated an “overweight” rating and issued a $57.00 price objective on shares of SM Energy in a report on Thursday, January 2nd. Williams Trading set a $41.00 price objective on SM Energy in a report on Wednesday. JPMorgan Chase & Co. restated a “neutral” rating and set a $53.00 target price (up from $51.00) on shares of SM Energy in a report on Wednesday, December 4th. StockNews.com cut SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Truist Financial increased their price objective on SM Energy from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Seven 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

SM Energy Stock Up 0.1 %

SM Energy stock traded up $0.03 during midday trading on Monday, reaching $27.62. The stock had a trading volume of 1,009,291 shares, compared to its average volume of 1,681,215. SM Energy has a 12 month low of $26.66 and a 12 month high of $53.26. The company has a market capitalization of $3.16 billion, a P/E ratio of 4.13 and a beta of 4.14. The company has a fifty day moving average price of $38.23 and a two-hundred day moving average price of $40.82. The company has a current ratio of 0.55, a quick ratio of 3.52 and a debt-to-equity ratio of 0.66.

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

Insider Activity

In other news, Director Barton R. Brookman, Jr. bought 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average price of $32.36 per share, with a total value of $226,520.00. Following the transaction, the director now owns 14,666 shares of the company’s stock, valued at approximately $474,591.76. The trade was a 91.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On SM Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of SM Energy in the 3rd quarter worth about $311,000. Janney Montgomery Scott LLC raised its stake in shares of SM Energy by 144.6% in the third quarter. Janney Montgomery Scott LLC now owns 22,357 shares of the energy company’s stock worth $894,000 after purchasing an additional 13,215 shares during the last quarter. QRG Capital Management Inc. lifted its position in SM Energy by 9.6% during the third quarter. QRG Capital Management Inc. now owns 6,746 shares of the energy company’s stock valued at $270,000 after purchasing an additional 590 shares during the period. Portside Wealth Group LLC bought a new position in shares of SM Energy during the 3rd quarter valued at $200,000. Finally, Atria Investments Inc grew its holdings in shares of SM Energy by 4.4% in the third quarter. Atria Investments Inc now owns 22,916 shares of the energy company’s stock worth $916,000 after acquiring an additional 961 shares during the period. 94.56% of the stock is owned by hedge funds and other institutional investors.

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.