KeyCorp Cuts SM Energy (NYSE:SM) Price Target to $60.00

SM Energy (NYSE:SM - Get Free Report) had its price objective decreased by equities research analysts at KeyCorp from $65.00 to $60.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the energy company's stock. KeyCorp's price objective indicates a potential upside of 40.48% from the company's previous close.

SM has been the topic of a number of other research reports. Mizuho cut their price objective on shares of SM Energy from $62.00 to $57.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. Tudor Pickering raised SM Energy to a "strong-buy" rating in a research note on Wednesday, August 21st. Wells Fargo & Company lowered their target price on SM Energy from $48.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 1st. TD Cowen raised shares of SM Energy from a "hold" rating to a "buy" rating and reduced their price target for the company from $64.00 to $60.00 in a research report on Tuesday. Finally, Truist Financial lowered their price objective on shares of SM Energy from $46.00 to $38.00 and set a "hold" rating on the stock in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.73.

SM Energy Trading Up 0.7 %

Shares of SM traded up $0.28 during trading hours on Wednesday, hitting $42.71. 2,419,974 shares of the stock were exchanged, compared to its average volume of 1,753,208. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26. The business has a 50-day moving average of $43.02 and a 200-day moving average of $46.04. The firm has a market capitalization of $4.91 billion, a P/E ratio of 6.69 and a beta of 4.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.28. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The firm had revenue of $634.56 million during the quarter, compared to the consensus estimate of $616.63 million. During the same period last year, the business posted $1.28 EPS. The business's revenue was up 15.2% compared to the same quarter last year. On average, research analysts expect that SM Energy will post 6.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SM. Register Financial Advisors LLC bought a new position in SM Energy in the 1st quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its position in shares of SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company's stock valued at $28,000 after purchasing an additional 474 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of SM Energy by 461.9% during the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company's stock valued at $26,000 after purchasing an additional 485 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in SM Energy by 63.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company's stock worth $38,000 after purchasing an additional 340 shares in the last quarter. Finally, Mather Group LLC. bought a new position in SM Energy in the 2nd quarter worth about $44,000. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Company Profile

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.