KeyCorp Lowers SM Energy (NYSE:SM) Price Target to $60.00

SM Energy (NYSE:SM) had its price objective lowered by stock analysts at KeyCorp from $65.00 to $60.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. KeyCorp’s price target would suggest a potential upside of 41.39% from the stock’s previous close.

Several other research analysts also recently issued reports on SM. Truist Financial dropped their price objective 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. Mizuho lowered their target price 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, Holt & Co. raised shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 target price on shares of SM Energy in a research note on Tuesday, October 8th. Finally, Tudor Pickering raised shares of SM Energy to a “strong-buy” rating in a research note on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.73.

SM Energy Stock Down 4.9 %

SM Energy stock opened at $42.44 on Wednesday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 6.65 and a beta of 4.18. 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 has a fifty-two week low of $34.13 and a fifty-two week high of $53.26. The firm has a fifty day moving average price of $42.94 and a two-hundred day moving average price of $46.06.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $634.56 million for the quarter, compared to the consensus estimate of $616.63 million. During the same quarter in the previous year, the firm posted $1.28 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. As a group, analysts forecast that SM Energy will post 6.96 earnings per share for the current year.

Hedge Funds Weigh In On SM Energy

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of SM Energy by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock worth $274,161,000 after purchasing an additional 384,675 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SM Energy by 1.2% during the second quarter. American Century Companies Inc. now owns 2,361,149 shares of the energy company’s stock worth $102,072,000 after purchasing an additional 28,005 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of SM Energy by 10.2% during the second quarter. Westwood Holdings Group Inc. now owns 1,709,927 shares of the energy company’s stock worth $73,920,000 after purchasing 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 second quarter. Bank of New York Mellon Corp now owns 1,335,624 shares of the energy company’s stock worth $57,739,000 after purchasing an additional 4,611 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of 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 in the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

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.