SM Energy (NYSE:SM) Price Target Raised to $44.00

by · The Markets Daily

SM Energy (NYSE:SM – Free Report) had its target price raised by Susquehanna from $32.00 to $44.00 in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have a neutral rating on the energy company’s stock.

A number of other research analysts have also issued reports on SM. Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a research note on Monday, June 22nd. Stifel Nicolaus initiated coverage on SM Energy in a report on Wednesday, September 9th. They set a “hold” rating and a $42.00 price target on the stock. Scotiabank initiated coverage on SM Energy in a research report on Wednesday, October 14th. They issued a “sector perform” rating and a $39.00 price target on the stock. UBS Group lifted their price objective on SM Energy from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Finally, Raymond James Financial decreased their price objective on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, SM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $40.59.

View Our Latest Analysis on SM

SM Energy Stock Performance

Shares of SM stock opened at $38.40 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy has a 52 week low of $17.45 and a 52 week high of $41.56. The stock has a market capitalization of $9.13 billion, a PE ratio of 7.56 and a beta of 0.95. The firm has a 50 day moving average of $36.67 and a two-hundred day moving average of $32.41.

SM Energy (NYSE:SM – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. The company’s quarterly revenue was up 215.3% compared to the same quarter last year. On average, research analysts predict that SM Energy will post 7.95 EPS for the current fiscal year.

SM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 7th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, September 4th. SM Energy’s dividend payout ratio (DPR) is presently 17.32%.

Insider Buying and Selling at SM Energy

In related news, Director Ashwin Venkatraman sold 3,650 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $38.28, for a total transaction of $139,722.00. Following the completion of the transaction, the director owned 12,525 shares in the company, valued at approximately $479,457. The trade was a 22.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Barker Lebeck sold 17,500 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $37.02, for a total transaction of $647,850.00. Following the transaction, the executive vice president owned 14,705 shares of the company’s stock, valued at approximately $544,379.10. The trade was a 54.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SM. Royal Bank of Canada lifted its stake in SM Energy by 112.1% during the first quarter. Royal Bank of Canada now owns 94,115 shares of the energy company’s stock worth $2,935,000 after purchasing an additional 49,740 shares during the last quarter. GSA Capital Partners LLP purchased a new position in SM Energy in the second quarter valued at approximately $2,243,000. Readystate Asset Management LP raised its holdings in SM Energy by 293.3% during the second quarter. Readystate Asset Management LP now owns 222,880 shares of the energy company’s stock worth $5,817,000 after purchasing an additional 166,208 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of SM Energy during the 2nd quarter worth approximately $2,965,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of SM Energy during the 1st quarter worth approximately $1,053,000. 94.56% of the stock is owned by institutional investors and hedge funds.

About SM Energy

(Get Free Report)

SM Energy Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its activities include acquiring prospective acreage, drilling and completing wells, and managing producing properties in U.S. onshore oil and gas basins.

The company’s operations are primarily concentrated in Texas, including the Midland Basin in West Texas and the Eagle Ford shale region in South Texas. SM Energy focuses on development of unconventional resources and uses horizontal drilling and hydraulic fracturing technologies to produce hydrocarbons from shale and other tight-rock formations.

Founded in 1908 as St.

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