SM Energy (NYSE:SM) Raised to Buy at TD Cowen

TD Cowen upgraded shares of SM Energy (NYSE:SM) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat reports. They currently have $60.00 price objective on the energy company’s stock, down from their prior price objective of $64.00.

A number of other research analysts also recently commented on SM. Mizuho dropped their target price 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. JPMorgan Chase & Co. lifted their target price on SM Energy from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Tudor Pickering raised SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Stephens restated an “overweight” rating and set a $63.00 price target on shares of SM Energy in a research note on Thursday, June 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of SM Energy in a research note on Tuesday, October 8th. Six investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.73.

SM Energy Stock Up 1.9 %

SM Energy stock opened at $43.52 on Tuesday. The stock has a market cap of $5.00 billion, a PE ratio of 6.82 and a beta of 4.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s fifty day moving average is $43.02 and its two-hundred day moving average is $46.02. SM Energy has a 1-year low of $34.13 and a 1-year high of $53.26.

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

SM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, October 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.84%. This is an increase from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s dividend payout ratio is presently 12.54%.

Hedge Funds Weigh In On SM Energy

A number of large investors have recently bought and sold shares of SM. Register Financial Advisors LLC purchased a new stake in shares of SM Energy in the first quarter valued at approximately $25,000. Hexagon Capital Partners LLC boosted its position in shares of SM Energy by 509.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock worth $28,000 after purchasing an additional 474 shares in the last quarter. Plato Investment Management Ltd grew its stake in shares of SM Energy by 461.9% during the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock worth $26,000 after purchasing an additional 485 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of SM Energy by 63.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock valued at $38,000 after purchasing an additional 340 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in SM Energy during the second quarter worth $44,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

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.