JPMorgan Chase & Co. Has Lowered Expectations for SM Energy (NYSE:SM) Stock Price

SM Energy (NYSE:SM) had its target price lowered by analysts at JPMorgan Chase & Co. from $54.00 to $41.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 44.12% from the stock’s previous close.

Several other research firms have also recently commented on SM. Stephens restated an “overweight” rating and issued a $57.00 price target on shares of SM Energy in a report on Thursday, January 2nd. StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Raymond James cut their price target on shares of SM Energy from $59.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday. Truist Financial boosted their price objective on shares of SM Energy from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their target price on SM Energy from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

SM Energy Trading Down 4.5 %

Shares of SM Energy stock traded down $1.33 during mid-day trading on Thursday, hitting $28.45. 1,145,861 shares of the stock were exchanged, compared to its average volume of 1,697,286. SM Energy has a twelve month low of $26.66 and a twelve month high of $53.26. The company has a 50-day simple moving average of $37.63 and a 200 day simple moving average of $40.51. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 4.26 and a beta of 4.14. The company has a current ratio of 0.55, a quick ratio of 3.52 and a debt-to-equity ratio of 0.66.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, February 19th. The energy company reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). The business had revenue of $852.22 million for the quarter, compared to analysts’ expectations of $849.44 million. SM Energy had a return on equity of 19.82% and a net margin of 28.63%. Research analysts forecast that SM Energy will post 8.1 EPS for the current year.

Insider Buying and Selling at SM Energy

In related news, Director Barton R. Brookman, Jr. purchased 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $32.36 per share, for a total transaction of $226,520.00. Following the completion of the acquisition, the director now owns 14,666 shares in the company, valued at $474,591.76. This trade represents a 91.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SM Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in SM Energy in the fourth quarter valued at about $1,353,000. Public Employees Retirement System of Ohio lifted its holdings in shares of SM Energy by 10.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 97,424 shares of the energy company’s stock valued at $3,776,000 after buying an additional 9,080 shares during the last quarter. Neo Ivy Capital Management grew its stake in shares of SM Energy by 42.9% in the 4th quarter. Neo Ivy Capital Management now owns 84,933 shares of the energy company’s stock valued at $3,292,000 after buying an additional 25,507 shares in the last quarter. GTS Securities LLC increased its holdings in SM Energy by 11.5% in the fourth quarter. GTS Securities LLC now owns 26,874 shares of the energy company’s stock worth $1,042,000 after buying an additional 2,774 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in SM Energy by 2.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,118,297 shares of the energy company’s stock worth $82,105,000 after buying an additional 42,297 shares during the last quarter. Hedge funds and other 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.