KeyCorp Raises SM Energy (NYSE:SM) Price Target to $50.00

SM Energy (NYSE:SMGet Rating) had its price objective increased by KeyCorp from $44.00 to $50.00 in a research note released on Friday, MarketBeat reports. They currently have an overweight rating on the energy company’s stock. KeyCorp also issued estimates for SM Energy’s Q3 2023 earnings at $3.00 EPS and Q4 2023 earnings at $3.03 EPS.

SM has been the subject of a number of other reports. Stifel Nicolaus decreased their price objective on SM Energy from $51.00 to $46.00 and set a buy rating for the company in a report on Wednesday, December 22nd. StockNews.com started coverage on SM Energy in a report on Thursday, March 31st. They issued a buy rating for the company. Zacks Investment Research downgraded SM Energy from a strong-buy rating to a hold rating and set a $42.00 price objective for the company. in a report on Tuesday, March 22nd. Wells Fargo & Company increased their price objective on SM Energy from $43.00 to $53.00 and gave the company an overweight rating in a report on Monday, March 14th. Finally, Cowen upgraded SM Energy from a market perform rating to an outperform rating and increased their price objective for the company from $34.25 to $42.00 in a report on Friday, December 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $46.67.

Shares of SM stock opened at $39.01 on Friday. SM Energy has a 1 year low of $14.79 and a 1 year high of $43.69. The stock has a market cap of $4.75 billion, a P/E ratio of 780.36 and a beta of 5.48. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. The stock has a 50 day simple moving average of $37.59 and a 200 day simple moving average of $33.71.

SM Energy (NYSE:SMGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The energy company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.82 by $0.32. SM Energy had a net margin of 1.38% and a return on equity of 13.06%. The business had revenue of $854.90 million during the quarter, compared to the consensus estimate of $595.23 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 166.9% on a year-over-year basis. Analysts forecast that SM Energy will post 8.48 EPS for the current year.

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, May 6th. Investors of record on Friday, April 22nd will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, April 21st. This represents a yield of 0.1%. SM Energy’s payout ratio is 40.01%.

In other news, CAO Patrick A. Lytle sold 6,776 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $42.01, for a total transaction of $284,659.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $40.60, for a total transaction of $1,218,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,562 shares of company stock worth $2,640,925. 1.90% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of SM. Oregon Public Employees Retirement Fund increased its stake in shares of SM Energy by 1.9% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 44,206 shares of the energy company’s stock worth $1,166,000 after purchasing an additional 840 shares during the last quarter. Strs Ohio grew its stake in SM Energy by 77.8% in the 3rd quarter. Strs Ohio now owns 14,400 shares of the energy company’s stock valued at $379,000 after buying an additional 6,300 shares in the last quarter. New York State Teachers Retirement System grew its stake in SM Energy by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 161,011 shares of the energy company’s stock valued at $4,247,000 after buying an additional 2,000 shares in the last quarter. Texas Permanent School Fund grew its stake in SM Energy by 9.8% in the 3rd quarter. Texas Permanent School Fund now owns 89,671 shares of the energy company’s stock valued at $2,366,000 after buying an additional 8,030 shares in the last quarter. Finally, Harvest Investment Services LLC purchased a new position in SM Energy in the 3rd quarter valued at approximately $341,000. Institutional investors own 89.43% of the company’s stock.

About SM Energy (Get Rating)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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