Truist Financial Trims SM Energy (NYSE:SM) Target Price to $49.00

SM Energy (NYSE:SM) had its price target lowered by investment analysts at Truist Financial from $51.00 to $49.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the energy company’s stock. Truist Financial’s target price indicates a potential upside of 11.95% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. StockNews.com raised SM Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. increased their price objective on SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Stephens reissued an “overweight” rating and issued a $63.00 target price on shares of SM Energy in a research note on Thursday. Wells Fargo & Company raised their price target on shares of SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, KeyCorp boosted their price objective on shares of SM Energy from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.89.

SM Energy Price Performance

SM Energy stock opened at $43.77 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. SM Energy has a one year low of $29.51 and a one year high of $53.26. The company has a market cap of $5.03 billion, a P/E ratio of 6.86 and a beta of 4.20. The business has a fifty day moving average of $48.52 and a two-hundred day moving average of $44.45.

SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. The business had revenue of $559.87 million for the quarter, compared to analysts’ expectations of $568.21 million. SM Energy had a return on equity of 20.10% and a net margin of 31.80%. As a group, analysts predict that SM Energy will post 6.69 earnings per share for the current fiscal year.

Insider Buying and Selling at SM Energy

In other SM Energy news, SVP Kenneth J. Knott sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $50.28, for a total value of $804,480.00. Following the completion of the transaction, the senior vice president now owns 114,495 shares in the company, valued at approximately $5,756,808.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SM Energy

A number of institutional investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. bought a new position in shares of SM Energy in the 4th quarter worth about $50,075,000. Congress Asset Management Co. MA raised its stake in 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 acquiring an additional 785,222 shares during the period. Dimensional Fund Advisors LP lifted its holdings in SM Energy by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,509,379 shares of the energy company’s stock worth $213,326,000 after acquiring an additional 493,427 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in SM Energy by 44.5% in the third quarter. Ameriprise Financial Inc. now owns 1,163,332 shares of the energy company’s stock valued at $46,126,000 after acquiring an additional 358,253 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of SM Energy by 39.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 751,453 shares of the energy company’s stock valued at $29,096,000 after purchasing an additional 213,866 shares during the last quarter. Institutional investors and hedge funds 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.