Wells Fargo & Company Lowers SM Energy (NYSE:SM) Price Target to $33.00

SM Energy (NYSE:SM) had its price objective reduced by investment analysts at Wells Fargo & Company from $45.00 to $33.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 3.67% from the company’s previous close.

Several other research firms also recently issued reports on SM. Mizuho reduced their price objective on SM Energy from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Raymond James decreased their price target on SM Energy from $59.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. Truist Financial boosted their price objective on SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their price target on shares of SM Energy from $54.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, StockNews.com lowered shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.00.

SM Energy Price Performance

Shares of SM stock opened at $31.83 on Tuesday. SM Energy has a 52 week low of $26.66 and a 52 week high of $53.26. The stock has a market capitalization of $3.64 billion, a PE ratio of 4.77 and a beta of 4.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.52 and a current ratio of 0.55. The stock’s fifty day moving average is $35.78 and its 200-day moving average is $39.67.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.09). SM Energy had a net margin of 28.63% and a return on equity of 19.82%. The company had revenue of $852.22 million during the quarter, compared to analyst estimates of $849.44 million. Equities research analysts expect that SM Energy will post 8.1 EPS for the current fiscal year.

Insider Transactions at SM Energy

In related news, Director Barton R. Brookman, Jr. acquired 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 directly owns 14,666 shares in the company, valued at approximately $474,591.76. The trade was a 91.31 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SM Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SM. Millburn Ridgefield Corp acquired a new position in shares of SM Energy during the third quarter worth about $55,000. R Squared Ltd acquired a new stake in shares of SM Energy in the fourth quarter valued at approximately $61,000. Legacy Investment Solutions LLC acquired a new position in SM Energy during the third quarter worth $83,000. Global Retirement Partners LLC boosted its holdings in SM Energy by 51.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,179 shares of the energy company’s stock worth $84,000 after purchasing an additional 736 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in SM Energy by 517.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,140 shares of the energy company’s stock valued at $159,000 after purchasing an additional 3,470 shares in the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.

SM Energy Company Profile

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.