SM Energy (NYSE:SM) PT Lowered to $60.00

SM Energy (NYSE:SM) had its target price cut by research analysts at KeyCorp from $65.00 to $60.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. KeyCorp’s price objective points to a potential upside of 37.87% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Mizuho reduced their price objective on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of SM Energy from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Stephens reiterated an “overweight” rating and set a $63.00 price objective on shares of SM Energy in a research report on Thursday, June 27th. BMO Capital Markets reduced their price objective on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, StockNews.com cut shares of SM Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SM Energy has an average rating of “Moderate Buy” and a consensus price target of $51.73.

SM Energy Price Performance

NYSE SM opened at $43.52 on Wednesday. SM Energy has a 12 month low of $34.13 and a 12 month high of $53.26. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 6.82 and a beta of 4.18. The company’s 50 day moving average is $43.02 and its two-hundred day moving average is $46.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The company had revenue of $634.56 million for the quarter, compared to analysts’ expectations of $616.63 million. During the same quarter last year, the business earned $1.28 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, research analysts anticipate that SM Energy will post 6.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stratos Wealth Advisors LLC purchased a new position in SM Energy during the third quarter worth $1,710,000. Inspire Advisors LLC purchased a new position in SM Energy during the third quarter worth $207,000. nVerses Capital LLC boosted its stake in SM Energy by 161.8% during the third quarter. nVerses Capital LLC now owns 8,900 shares of the energy company’s stock worth $356,000 after buying an additional 5,500 shares during the period. Creative Planning boosted its stake in SM Energy by 35.2% during the third quarter. Creative Planning now owns 63,535 shares of the energy company’s stock worth $2,539,000 after buying an additional 16,535 shares during the period. Finally, CX Institutional boosted its stake in SM Energy by 9.7% during the third quarter. CX Institutional now owns 23,718 shares of the energy company’s stock worth $948,000 after buying an additional 2,103 shares during the period. 94.56% of the stock is owned by hedge funds and other 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.