Wells Fargo & Company Cuts SM Energy (NYSE:SM) Price Target to $33.00

SM Energy (NYSE:SM) had its price target reduced by Wells Fargo & Company from $45.00 to $33.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. Wells Fargo & Company currently has an equal weight rating on the energy company’s stock.

Several other research analysts have also recently issued reports on SM. StockNews.com cut shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $57.00 price objective on shares of SM Energy in a research note on Thursday, January 2nd. Mizuho dropped their price target on shares of SM Energy from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial raised their target price on SM Energy from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Raymond James dropped their price objective on SM Energy from $59.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SM Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

SM Energy Price Performance

Shares of SM opened at $30.23 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.55 and a quick ratio of 3.52. The company’s fifty day moving average price is $34.96 and its 200-day moving average price is $39.47. SM Energy has a 1-year low of $26.66 and a 1-year high of $53.26. The firm has a market capitalization of $3.46 billion, a PE ratio of 4.52 and a beta of 4.14.

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

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. SM Energy’s dividend payout ratio (DPR) is presently 11.98%.

Insider Activity

In related news, Director Barton R. Brookman, Jr. bought 7,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of $32.36 per share, with a total value of $226,520.00. Following the completion of the transaction, the director now directly owns 14,666 shares of the company’s stock, valued at $474,591.76. This represents a 91.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SM Energy

Hedge funds have recently made changes to their positions in the stock. Millburn Ridgefield Corp purchased a new stake in shares of SM Energy in the 3rd quarter valued at $55,000. R Squared Ltd purchased a new position in shares of SM Energy in the fourth quarter valued at approximately $61,000. Legacy Investment Solutions LLC acquired a new position in shares of SM Energy in the third quarter valued at approximately $83,000. Global Retirement Partners LLC grew its holdings in shares of SM Energy by 51.0% in the fourth quarter. Global Retirement Partners LLC now owns 2,179 shares of the energy company’s stock valued at $84,000 after purchasing an additional 736 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in SM Energy by 517.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,140 shares of the energy company’s stock worth $159,000 after buying an additional 3,470 shares during the period. Hedge funds and other institutional investors 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.