KeyCorp Lowers SM Energy (NYSE:SM) Price Target to $60.00

SM Energy (NYSE:SM) had its price target dropped by equities researchers at KeyCorp from $65.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. KeyCorp’s target price points to a potential upside of 41.39% from the company’s current price.

Several other brokerages have also recently commented on SM. Truist Financial dropped their target price on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Mizuho decreased their price target on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Stephens restated an “overweight” rating and issued a $63.00 price target on shares of SM Energy in a research report on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of SM Energy in a research report on Tuesday, October 8th. Finally, Tudor Pickering upgraded shares of SM Energy to a “strong-buy” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.73.

SM Energy Stock Performance

SM opened at $42.44 on Wednesday. The business’s 50 day moving average is $42.94 and its 200-day moving average is $46.06. The stock has a market cap of $4.88 billion, a PE ratio of 6.65 and a beta of 4.18. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. SM Energy has a twelve month low of $34.13 and a twelve month high of $53.26.

SM Energy (NYSE:SM) last announced its earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The firm had revenue of $634.56 million for the quarter, compared to analysts’ expectations of $616.63 million. During the same quarter in the previous year, the company earned $1.28 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts predict that SM Energy will post 6.96 earnings per share for the current year.

Hedge Funds Weigh In On SM Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Jupiter Asset Management Ltd. purchased a new position in shares of SM Energy during the 1st quarter valued at $5,614,000. Foundry Partners LLC lifted its stake in shares of SM Energy by 1,733.5% in the 1st quarter. Foundry Partners LLC now owns 102,307 shares of the energy company’s stock valued at $5,100,000 after purchasing an additional 96,727 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of SM Energy in the 1st quarter valued at $710,000. Wedge Capital Management L L P NC lifted its stake in shares of SM Energy by 4.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock valued at $25,646,000 after purchasing an additional 27,405 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of SM Energy by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 764,118 shares of the energy company’s stock valued at $38,093,000 after purchasing an additional 124,450 shares during the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

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.