SM Energy (NYSE:SM) Price Target Lowered to $33.00 at Wells Fargo & Company

SM Energy (NYSE:SM) had its target price reduced by analysts at Wells Fargo & Company from $45.00 to $33.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 3.67% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of SM Energy from $54.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Stephens reiterated an “overweight” rating and set a $57.00 target price on shares of SM Energy in a research note on Thursday, January 2nd. Truist Financial boosted their target price on SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Williams Trading set a $41.00 price target on SM Energy in a report on Wednesday, March 5th. Finally, StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

SM Energy Trading Up 3.8 %

Shares of SM Energy stock opened at $31.83 on Tuesday. The stock has a market cap of $3.64 billion, a P/E ratio of 4.77 and a beta of 4.14. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66. SM Energy has a 12-month low of $26.66 and a 12-month high of $53.26. The business’s 50 day moving average is $35.78 and its 200-day moving average is $39.67.

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

Insider Activity

In other news, Director Barton R. Brookman, Jr. bought 7,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of $32.36 per share, for a total transaction of $226,520.00. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SM Energy

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