SM Energy (NYSE:SM) Given New $38.00 Price Target at Truist Financial

SM Energy (NYSE:SM) had its price objective cut by Truist Financial from $46.00 to $38.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the energy company’s stock. Truist Financial’s target price points to a potential downside of 4.69% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Wells Fargo & Company dropped their target price on SM Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Tudor Pickering raised SM Energy to a “strong-buy” rating in a research report on Wednesday, August 21st. Stephens reissued an “overweight” rating and issued a $63.00 price objective on shares of SM Energy in a report on Thursday, June 27th. JPMorgan Chase & Co. lowered their price objective on SM Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $54.00 price objective on shares of SM Energy in a report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.33.

SM Energy Trading Up 0.2 %

Shares of SM stock traded up $0.06 during mid-day trading on Monday, hitting $39.87. 187,534 shares of the company’s stock were exchanged, compared to its average volume of 1,758,603. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26. The stock has a 50-day simple moving average of $43.00 and a two-hundred day simple moving average of $46.46. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 6.25 and a beta of 4.18.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The company had revenue of $634.56 million for the quarter, compared to analysts’ expectations of $616.63 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts expect that SM Energy will post 7.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Register Financial Advisors LLC bought a new position in shares of SM Energy in the first quarter valued at $25,000. Hexagon Capital Partners LLC increased its stake in shares of SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock worth $28,000 after acquiring an additional 474 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of SM Energy by 54.9% in the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock worth $29,000 after acquiring an additional 206 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of SM Energy by 461.9% in the second 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. Finally, UMB Bank n.a. increased its stake in shares of SM Energy by 66.8% in the first quarter. UMB Bank n.a. now owns 829 shares of the energy company’s stock worth $41,000 after acquiring an additional 332 shares during the last quarter. Institutional investors 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.