Wall Street Zen Upgrades SM Energy (NYSE:SM) to “Strong-Buy”

SM Energy (NYSE:SM) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently weighed in on SM. Mizuho raised SM Energy to a “strong-buy” rating in a research report on Friday, July 31st. Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $41.00 in a report on Thursday, May 14th. Stephens lowered their target price on SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Wells Fargo & Company raised SM Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $47.00 in a report on Thursday, August 13th. Finally, Truist Financial lifted their price target on SM Energy from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, SM Energy has an average rating of “Moderate Buy” and a consensus price target of $37.93.

SM Energy Stock Performance

Shares of NYSE SM opened at $37.34 on Friday. The company has a 50 day simple moving average of $30.18 and a two-hundred day simple moving average of $28.87. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 7.35 and a beta of 0.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy has a 12 month low of $17.45 and a 12 month high of $38.25.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business’s quarterly revenue was up 215.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 earnings per share. As a group, analysts predict that SM Energy will post 7.36 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of SM Energy by 27.7% during the 1st quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock valued at $2,753,000 after acquiring an additional 19,965 shares during the period. AQR Capital Management LLC raised its holdings in SM Energy by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock worth $4,370,000 after purchasing an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in SM Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock worth $2,040,000 after purchasing an additional 2,969 shares during the period. NewEdge Advisors LLC grew its holdings in SM Energy by 44.9% in the first quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock valued at $97,000 after purchasing an additional 1,007 shares during the period. Finally, United Services Automobile Association acquired a new stake in SM Energy in the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.