SM Energy (NYSE:SM) Stock Price Target Cut by Truist Financial

SM Energy (NYSE:SM) had its target price dropped by research analysts at Truist Financial from $48.00 to $47.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial‘s price objective suggests a potential upside of 57.54% from the company’s previous close.

A number of other brokerages have also issued reports on SM. Scotiabank started coverage on shares of SM Energy in a research note on Wednesday, October 14th. They issued a “sector perform” rating and a $39.00 price target for the company. UBS Group upped their price target on shares of SM Energy from $36.00 to $48.00 and gave the company a “buy” rating in a report on Monday, September 14th. Zacks Research upgraded shares of SM Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Mizuho set a $39.00 price objective on shares of SM Energy in a report on Wednesday, October 7th. Finally, Seaport Research Partners initiated coverage on shares of SM Energy in a report on Thursday, September 3rd. They set a “sell” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.82.

SM Energy Stock Up 0.7%

SM stock traded up $0.20 during midday trading on Thursday, hitting $29.83. 3,949,584 shares of the company’s stock were exchanged, compared to its average volume of 2,497,333. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy has a 12-month low of $17.45 and a 12-month high of $41.56. The firm has a 50 day moving average price of $36.81 and a 200-day moving average price of $30.58. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.24 and a beta of 0.80.

SM Energy (NYSE:SM) last announced its earnings results on Tuesday, November 3rd. The energy company reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.06). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.04 billion. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business’s revenue for the quarter was up 167.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 earnings per share. On average, analysts anticipate that SM Energy will post 8.13 EPS for the current year.

Insider Buying and Selling

In other news, Director Ashwin Venkatraman sold 3,650 shares of SM Energy stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the completion of the transaction, the director owned 12,525 shares in the company, valued at approximately $479,457. This trade represents a 22.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Barker Lebeck sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the completion of the sale, the executive vice president owned 14,705 shares of the company’s stock, valued at $544,379.10. This trade represents a 54.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On SM Energy

Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its stake in SM Energy by 14.2% during the third quarter. SBI Securities Co. Ltd. now owns 2,109 shares of the energy company’s stock valued at $71,000 after purchasing an additional 262 shares during the last quarter. Unison Advisors LLC raised its holdings in shares of SM Energy by 0.8% during the third quarter. Unison Advisors LLC now owns 36,913 shares of the energy company’s stock worth $1,247,000 after purchasing an additional 289 shares during the period. IFP Advisors Inc lifted its position in shares of SM Energy by 1.8% in the 2nd quarter. IFP Advisors Inc now owns 18,006 shares of the energy company’s stock worth $470,000 after buying an additional 315 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in shares of SM Energy by 2.6% in the 3rd quarter. Gryphon Financial Partners LLC now owns 13,409 shares of the energy company’s stock worth $453,000 after buying an additional 342 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of SM Energy by 3.8% in the 2nd quarter. GAMMA Investing LLC now owns 10,108 shares of the energy company’s stock worth $264,000 after buying an additional 371 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors.

SM Energy Company Profile

SM Energy Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its activities include acquiring prospective acreage, drilling and completing wells, and managing producing properties in U.S. onshore oil and gas basins.

The company’s operations are primarily concentrated in Texas, including the Midland Basin in West Texas and the Eagle Ford shale region in South Texas. SM Energy focuses on development of unconventional resources and uses horizontal drilling and hydraulic fracturing technologies to produce hydrocarbons from shale and other tight-rock formations.

Founded in 1908 as St.