KeyCorp Boosts SM Energy (NYSE:SM) Price Target to $62.00

SM Energy (NYSE:SM) had its target price raised by KeyCorp from $51.00 to $62.00 in a research report report published on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the energy company’s stock.

Several other research analysts have also issued reports on SM. Raymond James lowered their target price on SM Energy from $53.00 to $45.00 and set an outperform rating for the company in a research report on Monday, January 8th. Susquehanna raised their target price on SM Energy from $38.00 to $42.00 and gave the company a neutral rating in a research note on Monday, February 26th. Mizuho raised their target price on SM Energy from $51.00 to $57.00 and gave the company a buy rating in a research note on Friday, April 5th. Royal Bank of Canada restated a sector perform rating and issued a $45.00 target price on shares of SM Energy in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. raised their target price on SM Energy from $49.00 to $54.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $49.29.

SM Energy Trading Down 0.6 %

Shares of SM stock opened at $50.42 on Friday. The stock’s fifty day moving average price is $45.22 and its two-hundred day moving average price is $40.65. The company has a market cap of $5.84 billion, a PE ratio of 7.34 and a beta of 4.20. SM Energy has a fifty-two week low of $25.03 and a fifty-two week high of $53.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.45 and a current ratio of 1.45.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.17. SM Energy had a return on equity of 20.74% and a net margin of 34.45%. The company had revenue of $608.73 million for the quarter, compared to the consensus estimate of $611.35 million. During the same quarter last year, the business posted $1.29 EPS. SM Energy’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts predict that SM Energy will post 6.21 EPS for the current fiscal year.

SM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. SM Energy’s payout ratio is presently 10.48%.

Hedge Funds Weigh In On SM Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. DGS Capital Management LLC purchased a new position in shares of SM Energy in the 1st quarter worth approximately $200,000. Miller Howard Investments Inc. NY boosted its stake in shares of SM Energy by 1.2% in the 1st quarter. Miller Howard Investments Inc. NY now owns 88,118 shares of the energy company’s stock worth $4,393,000 after buying an additional 1,004 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of SM Energy in the 1st quarter worth approximately $203,000. Congress Asset Management Co. MA boosted its stake in shares of SM Energy by 16.3% in the 1st quarter. Congress Asset Management Co. MA now owns 1,021,032 shares of the energy company’s stock worth $50,898,000 after buying an additional 143,293 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of SM Energy by 72.6% in the 1st quarter. Park Avenue Securities LLC now owns 10,305 shares of the energy company’s stock worth $514,000 after buying an additional 4,334 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

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.