SM Energy (NYSE:SM) Stock Rating Upgraded by TD Cowen

SM Energy (NYSE:SM) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $60.00 price objective on the energy company’s stock, down from their prior price objective of $64.00. TD Cowen’s price target would suggest a potential upside of 40.48% from the company’s previous close.

Several other research firms also recently commented on SM. BMO Capital Markets dropped their price objective on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Truist Financial cut their price target on SM Energy from $46.00 to $38.00 and set a “hold” rating for the company in a report on Monday, September 30th. Tudor Pickering raised SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company cut their target price on shares of SM Energy from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $51.73.

SM Energy Stock Performance

NYSE:SM opened at $42.71 on Tuesday. The stock has a 50-day moving average price of $43.02 and a 200 day moving average price of $46.04. 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 has a 12-month low of $34.13 and a 12-month high of $53.26. The stock has a market capitalization of $4.91 billion, a P/E ratio of 6.69 and a beta of 4.18.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.28. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The firm 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 posted $1.28 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts forecast that SM Energy will post 6.96 EPS for the current fiscal year.

Hedge Funds Weigh In On SM Energy

Several hedge funds have recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in shares of SM Energy during the first quarter valued at approximately $25,000. Hexagon Capital Partners LLC boosted its holdings in SM Energy by 509.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after acquiring an additional 474 shares during the period. Plato Investment Management Ltd grew its position in SM Energy by 461.9% in the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after acquiring an additional 485 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in SM Energy by 63.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock worth $38,000 after purchasing an additional 340 shares during the period. Finally, Mather Group LLC. purchased a new stake in SM Energy in the second quarter worth $44,000. 94.56% of the stock is currently owned by institutional investors.

SM Energy Company Profile

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.