Wells Fargo & Company Boosts SM Energy (NYSE:SM) Price Target to $51.00

SM Energy (NYSE:SM) had its price target upped by research analysts at Wells Fargo & Company from $45.00 to $51.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 3.47% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Seaport Res Ptn upgraded shares of SM Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Raymond James lowered their target price on shares of SM Energy from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price target on shares of SM Energy in a report on Monday, February 5th. Finally, KeyCorp boosted their price target on shares of SM Energy from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.86.

SM Energy Stock Down 2.0 %

NYSE SM opened at $49.29 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $45.76 and its two-hundred day moving average is $40.78. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 7.17 and a beta of 4.20. SM Energy has a 1-year low of $25.03 and a 1-year high of $53.26.

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 analysts’ consensus estimates of $1.39 by $0.17. The company had revenue of $608.73 million for the quarter, compared to the consensus estimate of $611.35 million. SM Energy had a return on equity of 20.74% and a net margin of 34.45%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 earnings per share. Equities analysts forecast that SM Energy will post 6.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SM Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Register Financial Advisors LLC bought a new stake in SM Energy during the 1st quarter worth about $25,000. First Horizon Advisors Inc. bought a new stake in SM Energy during the 1st quarter worth about $25,000. Penserra Capital Management LLC bought a new stake in SM Energy during the 3rd quarter worth about $28,000. IFP Advisors Inc lifted its position in SM Energy by 561.7% during the 2nd quarter. IFP Advisors Inc now owns 880 shares of the energy company’s stock worth $28,000 after buying an additional 747 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new stake in SM Energy during the 3rd quarter worth about $32,000. 94.56% of the stock is 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.