Raymond James Cuts SM Energy (NYSE:SM) Price Target to $40.00

SM Energy (NYSE:SM) had its price target trimmed by Raymond James from $59.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

SM has been the topic of a number of other reports. Wells Fargo & Company dropped their price target on SM Energy from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial boosted their target price on SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Williams Trading set a $41.00 target price on SM Energy in a research note on Wednesday, March 5th. StockNews.com lowered SM Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Stephens reissued an “overweight” rating and set a $57.00 price objective on shares of SM Energy in a research report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.00.

SM Energy Stock Performance

Shares of SM stock opened at $29.84 on Monday. The company’s fifty day moving average price is $37.63 and its 200-day moving average price is $40.51. The stock has a market cap of $3.41 billion, a PE ratio of 4.47 and a beta of 4.14. The company has a current ratio of 0.55, a quick ratio of 3.52 and a debt-to-equity ratio of 0.66. SM Energy has a 12 month low of $26.66 and a 12 month high of $53.26.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, February 19th. The energy company reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). The business had revenue of $852.22 million for the quarter, compared to analysts’ expectations of $849.44 million. SM Energy had a net margin of 28.63% and a return on equity of 19.82%. On average, equities analysts expect that SM Energy will post 8.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 24th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.68%. SM Energy’s dividend payout ratio is presently 11.98%.

Insider Activity at SM Energy

In other news, Director Barton R. Brookman, Jr. acquired 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $32.36 per share, with a total value of $226,520.00. Following the completion of the acquisition, the director now directly owns 14,666 shares of the company’s stock, valued at approximately $474,591.76. The trade was a 91.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SM. Wealth Enhancement Advisory Services LLC bought a new position in shares of SM Energy in the 3rd quarter worth approximately $311,000. Janney Montgomery Scott LLC increased its holdings in SM Energy by 144.6% during the third quarter. Janney Montgomery Scott LLC now owns 22,357 shares of the energy company’s stock valued at $894,000 after buying an additional 13,215 shares during the last quarter. QRG Capital Management Inc. raised its position in SM Energy by 9.6% in the third quarter. QRG Capital Management Inc. now owns 6,746 shares of the energy company’s stock worth $270,000 after acquiring an additional 590 shares during the period. Portside Wealth Group LLC purchased a new position in shares of SM Energy during the 3rd quarter worth $200,000. Finally, Atria Investments Inc grew its position in shares of SM Energy by 4.4% during the 3rd quarter. Atria Investments Inc now owns 22,916 shares of the energy company’s stock valued at $916,000 after acquiring an additional 961 shares during the period. 94.56% of the stock is owned by hedge funds and other institutional investors.

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.