SM Energy Company (SM) Price Target Raised to $21.00 at Barclays PLC
SM Energy Company (NYSE:SM) had its price target increased by analysts at Barclays PLC from $20.00 to $21.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “overweight” rating on the energy company’s stock. Barclays PLC’s price objective would suggest a potential upside of 17.45% from the stock’s current price.
Other analysts also recently issued reports about the company. Scotiabank set a $19.00 target price on SM Energy and gave the company a “hold” rating in a research note on Saturday, July 1st. BMO Capital Markets set a $21.00 target price on SM Energy and gave the company a “hold” rating in a research note on Tuesday. Seaport Global Securities downgraded SM Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $16.00 in a research note on Wednesday, June 21st. Zacks Investment Research downgraded SM Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of SM Energy in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $30.00.
SM Energy (NYSE SM) traded up 3.496% on Wednesday, hitting $18.505. The stock had a trading volume of 2,339,676 shares. The company has a 50-day moving average price of $15.67 and a 200-day moving average price of $17.94. The stock’s market capitalization is $2.07 billion. SM Energy has a 52 week low of $12.29 and a 52 week high of $43.09.
SM Energy (NYSE:SM) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.32) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). The company had revenue of $284.94 million during the quarter, compared to the consensus estimate of $299.12 million. SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period last year, the business posted ($0.44) EPS. Equities research analysts anticipate that SM Energy will post ($1.11) earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in SM Energy by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock valued at $210,889,000 after acquiring an additional 1,226,564 shares during the period. Capital Research Global Investors raised its holdings in SM Energy by 0.5% during the 3rd quarter. Capital Research Global Investors now owns 7,245,940 shares of the energy company’s stock valued at $279,548,000 after acquiring an additional 37,000 shares during the period. Causeway Capital Management LLC raised its holdings in SM Energy by 230.1% during the 1st quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock valued at $189,801,000 after acquiring an additional 4,816,230 shares during the period. Key Group Holdings Cayman LTD. raised its holdings in SM Energy by 40.9% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 5,305,568 shares of the energy company’s stock valued at $87,701,000 after acquiring an additional 1,538,955 shares during the period. Finally, State Street Corp increased its holdings in shares of SM Energy by 17.7% in the second quarter. State Street Corp now owns 5,195,340 shares of the energy company’s stock worth $85,878,000 after purchasing an additional 780,106 shares during the period. 97.05% of the stock is currently owned by institutional investors and hedge funds.
About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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