KeyCorp Cuts SM Energy (NYSE:SM) Price Target to $36.00

SM Energy (NYSE:SM) had its price objective cut by KeyCorp from $60.00 to $36.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James dropped their price target on shares of SM Energy from $59.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Truist Financial raised their target price on SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Williams Trading set a $41.00 price target on SM Energy in a report on Wednesday, March 5th. Stephens dropped their price objective on SM Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their target price on SM Energy from $45.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.83.

SM Energy Stock Down 4.5 %

SM opened at $22.00 on Monday. SM Energy has a 12 month low of $19.67 and a 12 month high of $51.94. The company has a current ratio of 0.55, a quick ratio of 3.52 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $28.96 and its 200-day moving average price is $37.23. The company has a market cap of $2.52 billion, a P/E ratio of 3.29 and a beta of 3.75.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.09). SM Energy had a net margin of 28.63% and a return on equity of 19.82%. The company had revenue of $852.22 million during the quarter, compared to the consensus estimate of $849.44 million. On average, equities analysts expect that SM Energy will post 8.1 EPS for the current year.

SM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. SM Energy’s payout ratio is 11.98%.

Insider Activity at SM Energy

In related news, Director Barton R. Brookman, Jr. acquired 7,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was acquired at an average price of $32.36 per share, for a total transaction of $226,520.00. Following the completion of the purchase, the director now owns 14,666 shares of the company’s stock, valued at $474,591.76. This represents a 91.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SM Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of SM Energy by 22.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,632,255 shares of the energy company’s stock valued at $179,546,000 after purchasing an additional 835,929 shares during the last quarter. First Trust Advisors LP raised its stake in SM Energy by 40.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,131 shares of the energy company’s stock valued at $103,998,000 after buying an additional 767,779 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of SM Energy during the 4th quarter valued at $22,059,000. Fisher Asset Management LLC grew its holdings in shares of SM Energy by 214.7% in the fourth quarter. Fisher Asset Management LLC now owns 519,302 shares of the energy company’s stock worth $20,128,000 after acquiring an additional 354,297 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of SM Energy by 8.8% in the fourth quarter. American Century Companies Inc. now owns 3,682,093 shares of the energy company’s stock worth $142,718,000 after acquiring an additional 296,601 shares during the period. 94.56% of the stock is currently owned by institutional investors.

About SM Energy

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.