SM Energy (NYSE: SM) price target raised to $ 30.00 at Wells Fargo & Company
SM Energy (NYSE: SM) saw its price target raised by analysts to Wells Fargo & Company from $ 25.00 to $ 30.00 in a note issued to investors on Wednesday, Fly reports. The company currently has a “peer-to-peer” rating on the shares of the energy company. Wells Fargo & CompanyThe company’s price target points to a potential rise of 25.16% from the company’s previous close.
Several other equity research analysts have also weighed on SM recently. Royal Bank of Canada downgraded SM Energy from an “outperformance” rating to a “sector performance” rating and increased its target price for the share from $ 18.00 to $ 27.00 in a report. research published Thursday, June 10. They noted that the move was an appraisal call. KeyCorp raised its price target on SM Energy from $ 20.00 to $ 28.00 and assigned the company an “overweight” rating in a research report published on Friday, April 9. Barclays raised its price target on SM Energy from $ 5.00 to $ 9.00 and gave the company an “underweight” rating in a research report on Thursday, June 3. Finally, Stifel Nicolaus raised his price target on SM Energy from $ 19.00 to $ 39.00 and gave the company a “buy” rating in a research report on Friday, June 25. Two research analysts rated the stock with a sell rating, five issued a conservation rating, and four assigned a buy rating to the company’s stock. SM Energy currently has a consensus rating of “Hold” and a consensus target price of $ 18.72.
Actions of SM stock open at $ 23.97 Wednesday. The stock has a fifty-day moving average price of $ 20.69. The stock has a market cap of $ 2.89 billion, a price-to-earnings ratio of -4.54 and a beta of 6.13. The company has a leverage ratio of 1.28, a current ratio of 0.30, and a quick ratio of 0.30. SM Energy has a one-year low at $ 1.34 and a one-year high at $ 26.86.
SM Energy (NYSE: SM) last reported its quarterly results on Thursday, April 29. The energy company reported ($ 0.05) earnings per share for the quarter, beating the consensus estimate of ($ 0.23) by $ 0.18. The company posted revenue of $ 443.85 million for the quarter, compared to a consensus estimate of $ 339.38 million. SM Energy recorded a negative return on equity of 1.25% and a negative net margin of 49.72%. Stock analysts predict that SM Energy will post earnings per share of -0.41 for the current year.
In other SM Energy news, SVP Kenneth J. Knott sold 12,257 shares of the company in a trade that took place on Wednesday, June 23. The shares were sold for an average price of $ 25.00, for a total value of $ 306,425.00. As a result of the transaction, the Senior Vice President now directly owns 60,930 shares of the company, valued at approximately $ 1,523,250. The transaction was disclosed in a file with the Securities & Exchange Commission, available at the SEC website. Insiders own 1.90% of the shares of the company.
Several hedge funds have recently increased or reduced their stakes in the company. Hodges Capital Management Inc. purchased a new stake in shares of SM Energy during the second quarter valued at approximately $ 5,175,000. Principal Financial Group Inc. increased its position in shares of SM Energy by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 745,078 shares of the energy company valued at $ 12,197,000 after purchasing an additional 12,082 shares during the period. Virtu Financial LLC acquired a new stake in SM Energy in the 1st quarter for a value of approximately $ 652,000. Kore Private Wealth LLC acquired a new stake in SM Energy in the 1st quarter for a value of approximately $ 737,000. Finally, the Canada Pension Plan Investment Board increased its stake in SM Energy by 94.5% in the first quarter. The Canada Pension Plan Investment Board now owns 256,935 shares of the energy company valued at $ 4,206,000 after purchasing an additional 124,803 shares in the last quarter. 78.03% of the shares are currently held by hedge funds and other institutional investors.
Company profile SM Énergie
SM Energy Company, an independent energy company, is engaged in the acquisition, exploration, development and production of petroleum, natural gas and natural gas liquids in the State of Texas. As of December 31, 2020, it had 404.6 million barrels of oil equivalent of estimated proven reserves; and direct interests in 801 producing crude oil wells and 498 producing crude gas wells in the Midland Basin and South Texas.
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