SM Energy (NYSE:SM) Price Target Cut to $50.00

SM Energy (NYSE:SM) had its target price lowered by equities research analysts at Wells Fargo & Company from $51.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 9.67% from the stock’s previous close.

Several other brokerages have also issued reports on SM. StockNews.com upgraded SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday. KeyCorp increased their price objective on SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Susquehanna increased their price objective on SM Energy from $42.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Stephens reiterated an “overweight” rating and set a $63.00 price objective on shares of SM Energy in a report on Thursday, June 27th. Finally, Mizuho raised their target price on SM Energy from $57.00 to $62.00 and gave the company a “buy” rating in a report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SM Energy has an average rating of “Moderate Buy” and a consensus price target of $54.44.

SM Energy Price Performance

SM opened at $45.59 on Friday. The stock has a fifty day moving average of $46.85 and a 200-day moving average of $45.23. The firm has a market capitalization of $5.24 billion, a P/E ratio of 7.15 and a beta of 4.20. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43.

SM Energy (NYSE:SM) last released its earnings results on Thursday, May 2nd. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. SM Energy had a return on equity of 20.10% and a net margin of 31.80%. The company had revenue of $559.87 million during the quarter, compared to analyst estimates of $568.21 million. Equities analysts forecast that SM Energy will post 7.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kenneth J. Knott sold 16,000 shares of SM Energy stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $50.28, for a total transaction of $804,480.00. Following the sale, the senior vice president now directly owns 114,495 shares of the company’s stock, valued at $5,756,808.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On SM Energy

A number of institutional investors have recently added to or reduced their stakes in SM. Register Financial Advisors LLC acquired a new stake in SM Energy during the first quarter worth about $25,000. Hexagon Capital Partners LLC boosted its holdings in SM Energy by 509.7% during the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after purchasing an additional 474 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in SM Energy by 54.9% during the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in SM Energy by 665.6% during the first quarter. Global Retirement Partners LLC now owns 689 shares of the energy company’s stock valued at $34,000 after purchasing an additional 599 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in SM Energy by 63.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock valued at $38,000 after purchasing an additional 340 shares in the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.

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.