SM Energy (NYSE:SM) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of SM Energy (NYSE:SM) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

Other analysts have also recently issued reports about the company. Truist Financial increased their price target on SM Energy from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Susquehanna boosted their price objective on SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Raymond James Financial lowered their price objective on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. UBS Group started coverage on SM Energy in a research report on Tuesday, July 14th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Siebert Williams Shank upgraded SM Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $30.00 to $41.00 in a research note 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 given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

SM Energy Price Performance

Shares of NYSE:SM opened at $37.34 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy has a fifty-two week low of $17.45 and a fifty-two week high of $38.25. The firm has a 50-day simple moving average of $30.18 and a 200 day simple moving average of $28.80. The company has a market cap of $8.88 billion, a PE ratio of 7.35 and a beta of 0.73.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business earned $1.50 earnings per share. SM Energy’s quarterly revenue was up 215.3% on a year-over-year basis. On average, sell-side analysts anticipate that SM Energy will post 7.36 EPS for the current year.

Institutional Investors Weigh In On SM Energy

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of SM Energy during the second quarter worth approximately $1,025,229,000. Canada Pension Plan Investment Board acquired a new stake in SM Energy in the 2nd quarter valued at approximately $378,288,000. Dimensional Fund Advisors LP increased its position in SM Energy by 79.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock valued at $311,678,000 after acquiring an additional 4,426,751 shares during the period. Donald Smith & CO. Inc. bought a new stake in SM Energy during the 2nd quarter valued at $199,602,000. Finally, State Street Corp raised its stake in SM Energy by 1.7% during the 4th quarter. State Street Corp now owns 6,257,360 shares of the energy company’s stock valued at $118,267,000 after acquiring an additional 107,295 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.

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.