Wall Street Zen upgraded shares of SM Energy (NYSE:SM – Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.
Several other research firms have also commented on SM. Truist Financial increased their target price on shares of SM Energy from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Zacks Research downgraded SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Stephens reduced their price objective on SM Energy from $61.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Susquehanna lifted their target price on SM Energy from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Finally, Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $41.00 in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SM Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.93.
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SM Energy Price Performance
SM Energy (NYSE:SM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.23. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.02 billion. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. SM Energy’s revenue was up 215.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 EPS. As a group, sell-side analysts anticipate that SM Energy will post 7.36 EPS for the current fiscal year.
Insider Activity
In related news, EVP James Barker Lebeck sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the completion of the sale, the executive vice president owned 14,705 shares in the company, valued at approximately $544,379.10. This represents a 54.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On SM Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in SM. Royal Bank of Canada boosted its position in shares of SM Energy by 27.7% in the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock worth $2,753,000 after buying an additional 19,965 shares during the period. AQR Capital Management LLC raised its position in SM Energy by 43.9% during the first quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock valued at $4,370,000 after buying an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SM Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock valued at $2,040,000 after buying an additional 2,969 shares during the period. NewEdge Advisors LLC lifted its stake in SM Energy by 44.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after acquiring an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in SM Energy during the 1st quarter worth about $222,000. 94.56% of the stock is currently owned by hedge funds and other institutional investors.
SM Energy Company Profile
SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.
The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.
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