Royal Bank of Canada Upgrades SM Energy (NYSE:SM) to Outperform


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Royal Bank of Canada upgraded shares of SM Energy (NYSE:SM) from a sector perform rating to an outperform rating in a research note issued to investors on Monday, AnalystRatings.net reports. The brokerage currently has $12.00 price target on the energy company’s stock, up from their prior price target of $2.50.

Several other equities research analysts have also issued reports on the company. Raymond James reissued a hold rating on shares of SM Energy in a research report on Wednesday, November 4th. MKM Partners upped their price target on SM Energy from $5.00 to $7.00 and gave the company a buy rating in a research report on Tuesday, November 3rd. BidaskClub raised SM Energy from a buy rating to a strong-buy rating in a research report on Friday, December 11th. Stifel Nicolaus upped their price target on SM Energy from $5.00 to $8.00 and gave the company a buy rating in a research report on Tuesday, December 22nd. Finally, KeyCorp upped their price objective on SM Energy from $7.00 to $8.00 and gave the stock an overweight rating in a research note on Thursday, January 7th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $5.90.

Shares of SM opened at $9.39 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.08. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -1.89 and a beta of 5.52. SM Energy has a 52-week low of $0.90 and a 52-week high of $11.84. The business’s 50 day moving average is $6.08 and its two-hundred day moving average is $3.42.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Thursday, November 5th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.18. The business had revenue of $281.00 million for the quarter, compared to analyst estimates of $316.49 million. SM Energy had a negative return on equity of 1.57% and a negative net margin of 41.03%. The business’s revenue was down 27.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS. On average, equities analysts expect that SM Energy will post -0.52 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC bought a new position in SM Energy during the second quarter valued at about $40,000. Diversified Trust Co boosted its stake in SM Energy by 90.3% during the fourth quarter. Diversified Trust Co now owns 20,592 shares of the energy company’s stock valued at $126,000 after buying an additional 9,770 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in SM Energy by 55.8% during the third quarter. Envestnet Asset Management Inc. now owns 21,529 shares of the energy company’s stock valued at $34,000 after buying an additional 7,707 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in SM Energy by 85.2% during the second quarter. Point72 Hong Kong Ltd now owns 26,199 shares of the energy company’s stock valued at $98,000 after buying an additional 12,052 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in SM Energy by 61.1% during the third quarter. Guggenheim Capital LLC now owns 29,670 shares of the energy company’s stock valued at $47,000 after buying an additional 11,249 shares in the last quarter. 91.26% of the stock is owned by institutional investors.

About SM Energy

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in the state of Texas. As of December 31, 2019, the company had 462.0 million barrels of oil equivalent of estimated proved reserves; and working interests in 807 gross productive oil wells and 519 gross productive gas wells in the Midland Basin and South Texas.

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Analyst Recommendations for SM Energy (NYSE:SM)

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