BMO Capital Markets Trims SM Energy (NYSE:SM) Target Price to $48.00

SM Energy (NYSE:SM) had its price target reduced by BMO Capital Markets from $50.00 to $48.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the energy company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 6.48% from the company’s current price.

SM has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of SM Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Stephens reissued an “overweight” rating and issued a $63.00 price objective on shares of SM Energy in a report on Thursday, June 27th. Mizuho reduced their target price on SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company lowered their price target on SM Energy from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, Truist Financial reduced their price objective on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $51.40.

SM Energy Trading Up 2.2 %

Shares of SM opened at $45.08 on Friday. SM Energy has a one year low of $34.13 and a one year high of $53.26. The stock has a 50-day moving average price of $42.70 and a 200 day moving average price of $46.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $5.18 billion, a P/E ratio of 7.07 and a beta of 4.18.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.57 by $0.28. The company had revenue of $634.56 million during the quarter, compared to analysts’ expectations of $616.63 million. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS. Sell-side analysts forecast that SM Energy will post 7.08 EPS for the current fiscal year.

Institutional Investors Weigh In On SM Energy

Hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. acquired a new stake in SM Energy in the 4th quarter valued at approximately $50,075,000. Jupiter Asset Management Ltd. increased its holdings in shares of SM Energy by 929.6% during the second quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock valued at $50,125,000 after purchasing an additional 1,046,872 shares during the period. Congress Asset Management Co. MA raised its stake in shares of SM Energy by 848.7% during the fourth quarter. Congress Asset Management Co. MA now owns 877,739 shares of the energy company’s stock valued at $33,986,000 after purchasing an additional 785,222 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of SM Energy by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock valued at $274,161,000 after purchasing an additional 384,675 shares in the last quarter. Finally, SIR Capital Management L.P. lifted its holdings in SM Energy by 144.7% in the second quarter. SIR Capital Management L.P. now owns 457,854 shares of the energy company’s stock worth $19,793,000 after purchasing an additional 270,754 shares during the period. Institutional investors own 94.56% of the company’s stock.

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.