Wells Fargo & Co Lowers SM Energy (NYSE:SM) Price Target to $22.00

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SM Energy (NYSE:SM) had its price target reduced by Wells Fargo & Co from $23.00 to $22.00 in a report issued on Friday, September 20th, BenzingaRatingsTable reports. They currently have a market perform rating on the energy company’s stock.

Other research analysts have also recently issued reports about the stock. Raymond James decreased their target price on shares of SM Energy from $20.00 to $15.00 and set an outperform rating for the company in a report on Thursday, July 18th. Stephens reissued an overweight rating and set a $20.00 price objective (down from $26.00) on shares of SM Energy in a report on Tuesday, June 18th. Bank of America reissued an underperform rating and set a $14.00 price objective (down from $17.00) on shares of SM Energy in a report on Friday, August 2nd. Jefferies Financial Group began coverage on shares of SM Energy in a report on Monday, July 29th. They set a hold rating and a $10.00 price objective for the company. Finally, Capital One Financial upgraded shares of SM Energy from an equal weight rating to an overweight rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $18.87.

SM traded up $0.17 on Friday, hitting $8.26. The company’s stock had a trading volume of 4,151,505 shares, compared to its average volume of 4,193,189. The company’s 50 day simple moving average is $9.77 and its 200-day simple moving average is $12.30. The firm has a market cap of $963.80 million, a P/E ratio of 275.33 and a beta of 2.92. SM Energy has a 12 month low of $7.79 and a 12 month high of $31.45. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.97.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.13. SM Energy had a net margin of 2.91% and a negative return on equity of 2.07%. The company had revenue of $407.17 million during the quarter, compared to the consensus estimate of $407.53 million. During the same period last year, the firm earned $0.15 EPS. Equities analysts predict that SM Energy will post -0.42 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Friday, October 25th will be paid a $0.05 dividend. This represents a yield of 1%. The ex-dividend date is Thursday, October 24th. SM Energy’s dividend payout ratio is currently 333.33%.

Institutional investors have recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in shares of SM Energy during the first quarter valued at $36,000. Armstrong Henry H Associates Inc. bought a new position in SM Energy in the 2nd quarter valued at $125,200,000. SG3 Management LLC acquired a new position in shares of SM Energy in the 2nd quarter valued at $125,000. Jane Street Group LLC acquired a new stake in SM Energy during the 2nd quarter worth $132,000. Finally, Shell Asset Management Co. acquired a new stake in SM Energy during the 1st quarter worth $203,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.

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Analyst Recommendations for SM Energy (NYSE:SM)

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