Truist Financial Issues Positive Forecast for SM Energy (NYSE:SM) Stock Price

SM Energy (NYSE:SM) had its price target boosted by stock analysts at Truist Financial from $38.00 to $39.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s price target indicates a potential upside of 27.70% from the stock’s previous close.

Several other equities analysts have also recently commented on SM. KeyCorp boosted their target price on SM Energy from $29.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Zacks Research raised SM Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Stephens upped their price objective on shares of SM Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Royal Bank Of Canada lowered their target price on shares of SM Energy from $35.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 13th. Finally, BMO Capital Markets boosted their price target on shares of SM Energy from $26.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SM Energy has an average rating of “Hold” and an average target price of $34.62.

SM Energy Stock Performance

Shares of SM opened at $30.54 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 12.83 and a beta of 0.73. SM Energy has a 52-week low of $17.45 and a 52-week high of $33.25. The stock’s 50-day simple moving average is $28.45 and its 200 day simple moving average is $22.69.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The company’s revenue for the quarter was up 75.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 earnings per share. Research analysts forecast that SM Energy will post 6.86 EPS for the current fiscal year.

Institutional Trading of SM Energy

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of SM Energy by 79.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock worth $311,678,000 after buying an additional 4,426,751 shares during the period. Millennium Management LLC lifted its stake in shares of SM Energy by 205.1% in the 4th quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock valued at $53,028,000 after acquiring an additional 1,906,255 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in SM Energy by 268.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,271,757 shares of the energy company’s stock valued at $42,482,000 after acquiring an additional 1,654,891 shares during the period. Woodline Partners LP grew its position in SM Energy by 198.9% during the 3rd quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company’s stock worth $60,665,000 after acquiring an additional 1,616,822 shares during the last quarter. Finally, Sagefield Capital LP bought a new position in SM Energy during the 4th quarter worth approximately $20,275,000. 94.56% of the stock is owned by institutional investors.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.