SM Energy (NYSE:SM) Price Target Cut to $30.00 by Analysts at TD Cowen

SM Energy (NYSE:SM) had its price objective cut by analysts at TD Cowen from $36.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. TD Cowen’s price target indicates a potential upside of 9.98% from the stock’s previous close.

A number of other brokerages have also weighed in on SM. Zacks Research upgraded SM Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Royal Bank Of Canada lowered their target price on shares of SM Energy from $35.00 to $29.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 13th. Siebert Williams Shank downgraded shares of SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Susquehanna decreased their price target on shares of SM Energy from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, January 26th. Finally, Roth Mkm reiterated a “buy” rating and set a $24.00 price objective on shares of SM Energy in a research note on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

SM Energy Stock Up 1.9%

Shares of SM traded up $0.52 during midday trading on Tuesday, hitting $27.28. 1,366,807 shares of the company’s stock traded hands, compared to its average volume of 7,053,185. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 4.82 and a beta of 1.03. SM Energy has a 1 year low of $17.45 and a 1 year high of $32.26. The firm’s fifty day moving average is $21.26 and its 200-day moving average is $21.66.

SM Energy (NYSE:SM) last announced its earnings results on Wednesday, February 25th. The energy company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.10. SM Energy had a return on equity of 13.47% and a net margin of 20.55%.The firm had revenue of $704.92 million for the quarter, compared to the consensus estimate of $764.40 million. During the same period in the previous year, the business earned $1.91 EPS. The firm’s revenue for the quarter was down 17.3% on a year-over-year basis. As a group, sell-side analysts anticipate that SM Energy will post 8.1 earnings per share for the current year.

Hedge Funds Weigh In On SM Energy

A number of institutional investors have recently bought and sold shares of SM. First Horizon Corp purchased a new stake in shares of SM Energy in the 3rd quarter valued at $30,000. Jones Financial Companies Lllp increased its stake in shares of SM Energy by 316.7% in the third quarter. Jones Financial Companies Lllp now owns 1,200 shares of the energy company’s stock worth $33,000 after acquiring an additional 912 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of SM Energy during the third quarter worth $31,000. NBC Securities Inc. lifted its position in SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock valued at $25,000 after purchasing an additional 830 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in SM Energy by 10,461.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock valued at $26,000 after purchasing an additional 1,360 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

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.