TD Cowen Lowers SM Energy (NYSE:SM) Price Target to $30.00

SM Energy (NYSE:SM) had its price objective dropped by equities researchers at TD Cowen from $36.00 to $30.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. TD Cowen’s price objective indicates a potential upside of 9.98% from the stock’s previous close.

SM has been the topic of a number of other reports. KeyCorp lowered their price target on shares of SM Energy from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Royal Bank Of Canada decreased their price objective on shares of SM Energy from $35.00 to $29.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 13th. Zacks Research raised shares of SM Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Mizuho set a $34.00 target price on SM Energy in a research report on Friday, January 9th. Finally, Siebert Williams Shank cut SM Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.00.

SM Energy Stock Performance

SM stock traded up $0.52 during trading on Tuesday, hitting $27.28. 1,366,807 shares of the company traded hands, compared to its average volume of 7,053,185. SM Energy has a 1 year low of $17.45 and a 1 year high of $32.26. The company has a market cap of $3.12 billion, a PE ratio of 4.82 and a beta of 1.03. The stock’s 50-day simple moving average is $21.26 and its 200 day simple moving average is $21.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.69 and a quick ratio of 0.69.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.73 by $0.10. The business had revenue of $704.92 million for the quarter, compared to analyst estimates of $764.40 million. SM Energy had a return on equity of 13.47% and a net margin of 20.55%.The business’s quarterly revenue was down 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 EPS. On average, equities analysts expect that SM Energy will post 8.1 earnings per share for the current fiscal year.

Institutional Trading of SM Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its position in shares of SM Energy by 205.1% during the 4th quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock worth $53,028,000 after purchasing an additional 1,906,255 shares during the last quarter. Alyeska Investment Group L.P. increased its stake 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 worth $42,482,000 after buying an additional 1,654,891 shares in the last quarter. Woodline Partners LP increased its stake 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 buying an additional 1,616,822 shares in the last quarter. Sagefield Capital LP acquired a new position in shares of SM Energy during the fourth quarter valued at approximately $20,275,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of SM Energy during the second quarter valued at approximately $25,179,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

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.