SM Energy (NYSE:SM) Price Target Raised to $45.00

SM Energy (NYSE:SM) had its price objective raised by Truist Financial from $42.00 to $45.00 in a research note published on Monday,Benzinga reports. Truist Financial currently has a hold rating on the energy company’s stock.

A number of other brokerages have also recently weighed in on SM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price target on shares of SM Energy in a research report on Tuesday, October 8th. Stephens restated an “overweight” rating and issued a $57.00 target price on shares of SM Energy in a report on Thursday, January 2nd. BMO Capital Markets decreased their target price on SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company dropped their price target on shares of SM Energy from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, KeyCorp decreased their price objective on shares of SM Energy from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SM Energy has a consensus rating of “Moderate Buy” and a consensus target price of $51.90.

SM Energy Stock Performance

Shares of SM stock opened at $44.75 on Monday. SM Energy has a fifty-two week low of $34.76 and a fifty-two week high of $53.26. The stock’s 50-day moving average is $41.76 and its two-hundred day moving average is $42.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a market cap of $5.12 billion, a P/E ratio of 6.25 and a beta of 4.14.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. The firm had revenue of $643.60 million for the quarter, compared to the consensus estimate of $643.67 million. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 earnings per share. Analysts predict that SM Energy will post 6.77 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 24th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, January 24th. SM Energy’s payout ratio is presently 11.17%.

Hedge Funds Weigh In On SM Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Plato Investment Management Ltd increased its holdings in SM Energy by 461.9% in the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after buying an additional 485 shares during the period. Harbor Capital Advisors Inc. bought a new stake in SM Energy in the third quarter valued at about $30,000. Blue Trust Inc. increased its stake in SM Energy by 3,434.5% in the third quarter. Blue Trust Inc. now owns 1,025 shares of the energy company’s stock valued at $44,000 after acquiring an additional 996 shares during the period. Millburn Ridgefield Corp acquired a new position in SM Energy in the third quarter worth about $55,000. Finally, International Assets Investment Management LLC lifted its stake in SM Energy by 3,897.2% during the third quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company’s stock worth $58,000 after purchasing an additional 1,403 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.