Truist Financial Lowers SM Energy (NYSE:SM) Price Target to $38.00

by · The Markets Daily

SM Energy (NYSE:SM – Free Report) had its price objective trimmed by Truist Financial from $46.00 to $38.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a hold rating on the energy company’s stock.

A number of other analysts have also weighed in on the company. StockNews.com lowered SM Energy from a buy rating to a hold rating in a report on Friday, September 13th. Stephens restated an overweight rating and issued a $63.00 price objective on shares of SM Energy in a report on Thursday, June 27th. Royal Bank of Canada reaffirmed a sector perform rating and set a $54.00 target price on shares of SM Energy in a research note on Tuesday, July 9th. Wells Fargo & Company lowered their price target on SM Energy from $50.00 to $48.00 and set an equal weight rating for the company in a research report on Thursday, August 22nd. Finally, Tudor Pickering raised SM Energy to a strong-buy rating in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, SM Energy presently has a consensus rating of Moderate Buy and an average price target of $51.78.

View Our Latest Analysis on SM

SM Energy Stock Up 5.2 %

Shares of SM opened at $44.09 on Monday. The company has a market capitalization of $5.07 billion, a PE ratio of 6.87 and a beta of 4.18. The business’s 50 day moving average is $42.75 and its 200 day moving average is $46.34. 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 12-month low of $34.13 and a 12-month high of $53.26.

SM Energy (NYSE:SM – Get Free Report) last released its earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.28. The firm had revenue of $634.56 million for the quarter, compared to the consensus estimate of $616.63 million. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. Research analysts expect that SM Energy will post 7.08 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The business 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.81%. This is a boost from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, October 25th. SM Energy’s dividend payout ratio (DPR) is presently 12.54%.

Institutional Trading of SM Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in SM Energy during the fourth quarter worth $50,075,000. Jupiter Asset Management Ltd. lifted its stake in shares of SM Energy by 929.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock worth $50,125,000 after purchasing an additional 1,046,872 shares during the period. Congress Asset Management Co. MA boosted its holdings in shares of SM Energy by 848.7% during the fourth quarter. Congress Asset Management Co. MA now owns 877,739 shares of the energy company’s stock worth $33,986,000 after purchasing an additional 785,222 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of SM Energy by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock valued at $274,161,000 after purchasing an additional 384,675 shares during the period. Finally, SIR Capital Management L.P. lifted its holdings in shares of SM Energy by 144.7% during the 2nd quarter. SIR Capital Management L.P. now owns 457,854 shares of the energy company’s stock worth $19,793,000 after acquiring an additional 270,754 shares during the period. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Company Profile

(Get Free Report)

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.

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