BMO Capital Markets Raises SM Energy (NYSE:SM) Price Target to $33.00

SM Energy (NYSE:SM) had its price target raised by research analysts at BMO Capital Markets from $26.00 to $33.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the energy company’s stock. BMO Capital Markets’ target price points to a potential upside of 7.02% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada dropped their target price on shares of SM Energy from $35.00 to $29.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 13th. TD Cowen reduced their price target on shares of SM Energy from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Siebert Williams Shank cut shares of SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Susquehanna dropped their price objective on shares of SM Energy from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, January 26th. Finally, Stephens lifted their price objective on shares of SM Energy from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, SM Energy currently has an average rating of “Hold” and an average price target of $32.62.

SM Energy Stock Up 4.5%

NYSE SM traded up $1.34 on Thursday, reaching $30.84. 2,797,032 shares of the stock traded hands, compared to its average volume of 7,005,849. SM Energy has a 12 month low of $17.45 and a 12 month high of $33.25. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 5.46 and a beta of 1.03. The company has a fifty day moving average price of $24.11 and a 200-day moving average price of $21.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.69 and a current ratio of 0.69.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The business had revenue of $704.92 million for the quarter, compared to the consensus estimate of $764.40 million. SM Energy had a return on equity of 13.47% and a net margin of 20.55%.The business’s revenue was down 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.91 EPS. As a group, research analysts forecast that SM Energy will post 8.1 EPS for the current fiscal year.

Institutional Trading of SM Energy

Institutional investors have recently made changes to their positions in the business. Summit Global Investments lifted its holdings in shares of SM Energy by 1.1% during the fourth quarter. Summit Global Investments now owns 46,417 shares of the energy company’s stock worth $868,000 after purchasing an additional 489 shares during the period. State of Wyoming boosted its holdings in SM Energy by 22.2% during the fourth quarter. State of Wyoming now owns 2,748 shares of the energy company’s stock worth $51,000 after buying an additional 499 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of SM Energy by 36.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,010 shares of the energy company’s stock valued at $50,000 after acquiring an additional 535 shares during the period. Global Retirement Partners LLC increased its stake in shares of SM Energy by 62.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after purchasing an additional 535 shares in the last quarter. Finally, First National Advisers LLC raised its holdings in SM Energy by 4.8% in the 3rd quarter. First National Advisers LLC now owns 12,604 shares of the energy company’s stock worth $315,000 after purchasing an additional 578 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.