SM Energy (NYSE:SM) PT Lowered to $60.00 at KeyCorp

SM Energy (NYSE:SM) had its target price reduced by KeyCorp from $65.00 to $60.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Several other research firms have also recently issued reports on SM. Stephens reiterated an “overweight” rating and issued a $63.00 price objective on shares of SM Energy in a report on Thursday, June 27th. Mizuho dropped their price target on SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of SM Energy in a research note on Tuesday, October 8th. Wells Fargo & Company reduced 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 research report on Tuesday, October 1st. Finally, TD Cowen upgraded shares of SM Energy from a “hold” rating to a “buy” rating and lowered their price target for the stock from $64.00 to $60.00 in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.73.

SM Energy Stock Down 1.5 %

Shares of SM opened at $42.85 on Wednesday. The firm has a market cap of $4.93 billion, a P/E ratio of 6.72 and a beta of 4.18. SM Energy has a 12 month low of $34.13 and a 12 month high of $53.26. The stock’s 50 day moving average is $43.02 and its two-hundred day moving average is $45.93. 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 (NYSE:SM) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. The company had revenue of $634.56 million during the quarter, compared to analyst estimates of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. Analysts predict that SM Energy will post 6.96 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.20 per share. This is a boost from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, October 25th. This represents a $0.80 annualized dividend and a yield of 1.87%. SM Energy’s dividend payout ratio (DPR) is 12.54%.

Hedge Funds Weigh In On SM Energy

Several large investors have recently modified their holdings of the business. Register Financial Advisors LLC purchased a new stake in SM Energy in the 1st quarter valued at about $25,000. Hexagon Capital Partners LLC raised its stake in shares of SM Energy by 509.7% in 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 lifted its holdings in shares of SM Energy by 461.9% in the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock worth $26,000 after acquiring an additional 485 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of SM Energy by 63.9% during the 2nd 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. acquired a new stake in SM Energy in the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds 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.