SM Energy (NYSE:SM) Upgraded by JPMorgan Chase & Co. to Overweight Rating
by Tristan Rich · The Markets DailySM Energy (NYSE:SM – Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday,Finviz reports. The brokerage presently has a $40.00 price objective on the energy company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 43.44% from the company’s current price.
Several other research firms have also weighed in on SM. National Bank Financial set a $30.00 price target on SM Energy in a report on Tuesday. Siebert Williams Shank cut shares of SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. TD Cowen reduced their target price on shares of SM Energy from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday. KeyCorp lowered their target price on shares of SM Energy from $36.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Finally, Weiss Ratings raised shares of SM Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, SM Energy has a consensus rating of “Hold” and an average target price of $31.09.
View Our Latest Research Report on SM
SM Energy Trading Up 2.3%
SM opened at $27.89 on Friday. The stock has a 50-day moving average of $21.81 and a 200 day moving average of $21.73. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.48. SM Energy has a 12 month low of $17.45 and a 12 month high of $32.26. The firm has a market cap of $3.19 billion, a P/E ratio of 4.94 and a beta of 1.03.
SM Energy (NYSE:SM – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. The business had revenue of $704.92 million for the quarter, compared to the consensus estimate of $764.40 million. SM Energy had a return on equity of 13.47% and a net margin of 20.55%.The company’s quarterly revenue was down 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.91 earnings per share. As a group, research analysts forecast that SM Energy will post 8.1 EPS for the current year.
Institutional Trading of SM Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of SM Energy by 1.7% during the fourth quarter. State Street Corp now owns 6,257,360 shares of the energy company’s stock valued at $118,267,000 after purchasing an additional 107,295 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of SM Energy by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 5,921,769 shares of the energy company’s stock valued at $147,876,000 after acquiring an additional 30,951 shares in the last quarter. American Century Companies Inc. raised its stake in SM Energy by 8.9% in the third quarter. American Century Companies Inc. now owns 4,585,624 shares of the energy company’s stock worth $114,503,000 after buying an additional 375,754 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in SM Energy by 16.3% during the second quarter. Westwood Holdings Group Inc. now owns 3,731,350 shares of the energy company’s stock valued at $92,202,000 after purchasing an additional 524,105 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in SM Energy by 205.1% in the fourth quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock valued at $53,028,000 after acquiring an additional 1,906,255 shares in the last quarter. Hedge funds and other institutional investors 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.