Wells Fargo & Company Lowers SM Energy (NYSE:SM) Price Target to $45.00

SM Energy (NYSE:SM) had its price objective reduced by equities researchers at Wells Fargo & Company from $47.00 to $45.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 21.13% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen raised shares of SM Energy from a “hold” rating to a “buy” rating and dropped their price target for the company from $64.00 to $60.00 in a research note on Tuesday, October 15th. BMO Capital Markets cut their target price on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 target price on shares of SM Energy in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $53.00 price objective (up from $51.00) on shares of SM Energy in a research note on Wednesday, December 4th. Seven 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.64.

SM Energy Price Performance

NYSE:SM opened at $37.15 on Tuesday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.67. SM Energy has a 52 week low of $34.76 and a 52 week high of $53.26. The business’s 50-day simple moving average is $42.80 and its two-hundred day simple moving average is $43.78. The stock has a market cap of $4.25 billion, a PE ratio of 5.19 and a beta of 4.14.

SM Energy (NYSE:SM) last announced its earnings results on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $643.67 million. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. As a group, analysts forecast that SM Energy will post 6.77 EPS for the current fiscal year.

Hedge Funds Weigh In On SM Energy

Institutional investors have recently bought and sold shares of the business. DGS Capital Management LLC lifted its position in shares of SM Energy by 88.4% during the 3rd quarter. DGS Capital Management LLC now owns 10,910 shares of the energy company’s stock worth $436,000 after buying an additional 5,119 shares during the last quarter. Tidal Investments LLC bought a new stake in SM Energy in the third quarter valued at $445,000. World Investment Advisors LLC bought a new stake in shares of SM Energy during the third quarter valued at approximately $3,048,000. Sanctuary Advisors LLC grew its holdings in shares of SM Energy by 5.6% during the third quarter. Sanctuary Advisors LLC now owns 33,173 shares of the energy company’s stock valued at $1,326,000 after buying an additional 1,774 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of SM Energy in the third quarter worth approximately $2,376,000. 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.