SM Energy (NYSE:SM) Price Target Raised to $39.00 at Truist Financial

SM Energy (NYSE:SM) had its price target raised by research analysts at Truist Financial from $38.00 to $39.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Truist Financial’s price target suggests a potential upside of 27.70% from the company’s previous close.

Several other brokerages have also recently weighed in on SM. Wells Fargo & Company raised their price target on shares of SM Energy from $25.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. TD Cowen lowered their price target on SM Energy from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Royal Bank Of Canada dropped their price objective on SM Energy from $35.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 13th. Susquehanna lifted their price objective on shares of SM Energy from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Stephens raised their price target on shares of SM Energy from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.62.

SM Energy Stock Down 0.4%

Shares of NYSE:SM opened at $30.54 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. SM Energy has a 52-week low of $17.45 and a 52-week high of $33.25. The business’s 50 day simple moving average is $28.45 and its two-hundred day simple moving average is $22.69. The firm has a market cap of $7.32 billion, a P/E ratio of 12.83 and a beta of 0.73.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. SM Energy’s revenue for the quarter was up 75.0% on a year-over-year basis. As a group, research analysts forecast that SM Energy will post 6.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Global Investments grew its holdings in SM Energy by 1.1% during the fourth quarter. Summit Global Investments now owns 46,417 shares of the energy company’s stock valued at $868,000 after purchasing an additional 489 shares during the period. State of Wyoming lifted its position in shares of SM Energy by 22.2% during the 4th quarter. State of Wyoming now owns 2,748 shares of the energy company’s stock valued at $51,000 after buying an additional 499 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of SM Energy by 62.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock worth $26,000 after acquiring an additional 535 shares during the period. First National Advisers LLC increased its holdings in SM Energy by 4.8% in the 3rd quarter. First National Advisers LLC now owns 12,604 shares of the energy company’s stock worth $315,000 after acquiring an additional 578 shares during the last quarter. Finally, First Horizon Corp raised its stake in SM Energy by 57.4% in the 4th quarter. First Horizon Corp now owns 1,860 shares of the energy company’s stock valued at $35,000 after acquiring an additional 678 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

About SM Energy

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.