TD Cowen Lowers SM Energy (NYSE:SM) Price Target to $30.00

SM Energy (NYSE:SM) had its target price dropped by TD Cowen from $36.00 to $30.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a “buy” rating on the energy company’s stock. TD Cowen’s price objective indicates a potential upside of 9.87% from the stock’s previous close.

Several other equities analysts have also recently commented on SM. Zacks Research upgraded shares of SM Energy from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Stephens increased their price objective on SM Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Roth Mkm reissued a “buy” rating and set a $24.00 price objective on shares of SM Energy in a research report on Wednesday, February 18th. KeyCorp lowered their target price on SM Energy from $36.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Finally, Susquehanna cut their price target on SM Energy from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 26th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SM Energy presently has a consensus rating of “Hold” and a consensus target price of $30.00.

SM Energy Stock Performance

Shares of SM opened at $27.31 on Tuesday. The company’s 50 day moving average price is $21.62 and its 200 day moving average price is $21.69. SM Energy has a 52 week low of $17.45 and a 52 week high of $32.26. The company has a market capitalization of $3.13 billion, a PE ratio of 4.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.69 and a current ratio of 0.69.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.10. SM Energy had a net margin of 20.55% and a return on equity of 13.47%. The firm had revenue of $704.92 million for the quarter, compared to analyst estimates of $764.40 million. During the same quarter in the prior year, the business earned $1.91 EPS. The company’s revenue for the quarter was down 17.3% compared to the same quarter last year. Research analysts expect that SM Energy will post 8.1 EPS for the current fiscal year.

Institutional Investors Weigh In On SM Energy

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in SM Energy by 205.1% during the fourth quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock valued at $53,028,000 after buying an additional 1,906,255 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of SM Energy by 268.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,271,757 shares of the energy company’s stock worth $42,482,000 after acquiring an additional 1,654,891 shares in the last quarter. Woodline Partners LP boosted its stake in shares of SM Energy by 198.9% during the 3rd quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company’s stock worth $60,665,000 after acquiring an additional 1,616,822 shares in the last quarter. Sagefield Capital LP acquired a new position in shares of SM Energy during the 4th quarter valued at about $20,275,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of SM Energy during the 2nd quarter valued at about $25,179,000. 94.56% of the stock is currently owned by institutional investors.

About SM Energy

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.