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

SM Energy (NYSE:SM - Free Report) had its price target decreased by Wells Fargo & Company from $45.00 to $33.00 in a research report report published on Tuesday, MarketBeat reports. Wells Fargo & Company currently has an equal weight rating on the energy company's stock.

Several other research firms have also commented on SM. Truist Financial lifted their price target on SM Energy from $42.00 to $45.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on SM Energy from $54.00 to $41.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Stephens reiterated an "overweight" rating and issued a $57.00 target price on shares of SM Energy in a research note on Thursday, January 2nd. Raymond James reduced 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. Finally, Williams Trading set a $41.00 price objective on shares of SM Energy in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.00.

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SM Energy Price Performance

NYSE:SM traded down $0.83 during trading hours on Tuesday, hitting $29.42. 1,378,626 shares of the stock traded hands, compared to its average volume of 1,788,629. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 4.40 and a beta of 4.14. SM Energy has a 1 year low of $26.66 and a 1 year high of $53.26. The stock has a 50 day moving average price of $34.68 and a 200 day moving average price of $39.40. 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 announced its quarterly earnings data 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). SM Energy had a net margin of 28.63% and a return on equity of 19.82%. The company had revenue of $852.22 million for the quarter, compared to analysts' expectations of $849.44 million. Sell-side analysts forecast that SM Energy will post 8.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 18th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.80 annualized dividend and a yield of 2.72%. SM Energy's dividend payout ratio is presently 11.98%.

Insider Activity

In other SM Energy news, Director Barton R. Brookman, Jr. bought 7,000 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $32.36 per share, for a total transaction of $226,520.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On SM Energy

A number of institutional investors have recently added to or reduced their stakes in SM. Millburn Ridgefield Corp purchased a new position in SM Energy during the third quarter valued at $55,000. R Squared Ltd purchased a new stake in shares of SM Energy during the fourth quarter worth approximately $61,000. Legacy Investment Solutions LLC acquired a new position in SM Energy in the 3rd quarter valued at $83,000. Global Retirement Partners LLC lifted its holdings in SM Energy by 51.0% in the 4th 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 boosted 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 purchasing an additional 3,470 shares during the last quarter. Institutional investors and hedge funds own 94.56% 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 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.