MKM Partners assumed coverage on shares of SM Energy (NYSE:SM) in a report released on Wednesday, The Fly reports. The brokerage set a “buy” rating and a $31.00 price target on the energy company’s stock. MKM Partners’ price target indicates a potential upside of 50.63% from the company’s current price.

Several other equities analysts have also weighed in on the company. KLR Group reissued a “buy” rating and set a $40.00 price objective on shares of SM Energy in a report on Monday, August 20th. Citigroup increased their price objective on SM Energy to $29.00 and gave the company a “neutral” rating in a report on Friday, August 17th. Scotiabank raised SM Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 27th. Zacks Investment Research raised SM Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, October 9th. Finally, Wells Fargo & Co raised SM Energy from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a report on Tuesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $33.67.

Shares of SM traded down $1.07 on Wednesday, reaching $20.58. 3,207,489 shares of the company’s stock traded hands, compared to its average volume of 2,184,020. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -25.10, a PEG ratio of 10.77 and a beta of 2.98. SM Energy has a 52-week low of $16.11 and a 52-week high of $33.76.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Thursday, November 1st. The energy company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.17). The business had revenue of $459.37 million for the quarter, compared to analysts’ expectations of $429.63 million. SM Energy had a net margin of 8.56% and a return on equity of 0.59%. The business’s revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.25) earnings per share. As a group, equities research analysts predict that SM Energy will post 0.2 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in SM Energy by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 71,338 shares of the energy company’s stock valued at $1,833,000 after acquiring an additional 1,819 shares during the period. Radnor Capital Management LLC boosted its holdings in SM Energy by 18.7% during the 3rd quarter. Radnor Capital Management LLC now owns 13,950 shares of the energy company’s stock valued at $440,000 after acquiring an additional 2,200 shares during the period. Aperio Group LLC boosted its holdings in SM Energy by 4.7% during the 3rd quarter. Aperio Group LLC now owns 50,268 shares of the energy company’s stock valued at $1,585,000 after acquiring an additional 2,277 shares during the period. Russell Investments Group Ltd. boosted its holdings in SM Energy by 50.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,685 shares of the energy company’s stock valued at $199,000 after acquiring an additional 2,570 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in SM Energy by 7.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 39,598 shares of the energy company’s stock valued at $1,017,000 after acquiring an additional 2,835 shares during the period.

About SM Energy

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the Midland Basin and the Eagle Ford shale in Texas. As of December 31, 2017, the company had 468.1 million barrels of oil equivalent of estimated proved reserves; and working interests in 919 net productive oil wells and 489 net productive gas wells.

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Analyst Recommendations for SM Energy (NYSE:SM)

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