JPMorgan Chase & Co. Lowers SM Energy (NYSE:SM) Price Target to $41.00

SM Energy (NYSE:SM - Get Free Report) had its price objective reduced by JPMorgan Chase & Co. from $54.00 to $41.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the energy company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 34.38% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Mizuho lowered their price target on SM Energy from $57.00 to $55.00 and set an "outperform" rating for the company in a report on Monday, December 16th. StockNews.com lowered shares of SM Energy from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Truist Financial lifted their price target on shares of SM Energy from $42.00 to $45.00 and gave the company a "hold" rating in a report on Monday, January 13th. Williams Trading set a $41.00 price objective on SM Energy in a report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their target price on SM Energy from $47.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.00.

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SM Energy Trading Up 1.7 %

Shares of SM traded up $0.52 on Thursday, hitting $30.51. 914,562 shares of the stock traded hands, compared to its average volume of 1,660,435. SM Energy has a 1 year low of $26.66 and a 1 year high of $53.26. The stock's 50 day moving average is $37.19 and its two-hundred day moving average is $40.23. The firm has a market capitalization of $3.49 billion, a P/E ratio of 4.57 and a beta of 4.14. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66.

SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.09). The business had revenue of $852.22 million for the quarter, compared to analyst estimates of $849.44 million. SM Energy had a return on equity of 19.82% and a net margin of 28.63%. As a group, sell-side analysts predict that SM Energy will post 8.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Barton R. Brookman, Jr. purchased 7,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $32.36 per share, with a total value of $226,520.00. Following the purchase, the director now owns 14,666 shares in the company, valued at $474,591.76. This trade represents a 91.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Millburn Ridgefield Corp acquired a new position in shares of SM Energy in the third quarter worth about $55,000. R Squared Ltd bought a new stake in SM Energy in the fourth quarter worth approximately $61,000. Legacy Investment Solutions LLC bought a new stake in SM Energy in the third quarter worth $83,000. Global Retirement Partners LLC raised its holdings in SM Energy by 51.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,179 shares of the energy company's stock valued at $84,000 after buying an additional 736 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of SM Energy by 16.7% during the 3rd quarter. KBC Group NV now owns 3,321 shares of the energy company's stock valued at $133,000 after acquiring an additional 476 shares during the last quarter. 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.