KeyCorp Cuts SM Energy (NYSE:SM) Price Target to $36.00

SM Energy (NYSE:SM) had its price objective cut by analysts at KeyCorp from $60.00 to $36.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. KeyCorp’s price target points to a potential upside of 60.89% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Truist Financial lifted their target price on SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Williams Trading set a $41.00 price objective on SM Energy in a report on Wednesday, March 5th. Wells Fargo & Company reduced their target price on SM Energy from $45.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of SM Energy from $54.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.83.

SM Energy Stock Performance

Shares of SM Energy stock traded down $0.66 on Monday, reaching $22.38. The stock had a trading volume of 323,630 shares, compared to its average volume of 1,866,265. SM Energy has a fifty-two week low of $19.67 and a fifty-two week high of $51.94. The business’s 50-day moving average price is $29.30 and its two-hundred day moving average price is $37.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.52 and a current ratio of 0.55. The stock has a market cap of $2.56 billion, a P/E ratio of 3.35 and a beta of 3.75.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 earnings per share 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%. On average, sell-side analysts forecast that SM Energy will post 8.1 EPS for the current year.

Insider Activity at SM Energy

In other news, Director Barton R. Brookman, Jr. purchased 7,000 shares of SM Energy stock in a transaction on Wednesday, February 26th. The stock was purchased at an average price of $32.36 per share, with a total value of $226,520.00. Following the transaction, the director now directly owns 14,666 shares in the company, valued at $474,591.76. The trade was a 91.31 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SM Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SM. Janney Montgomery Scott LLC boosted its position in SM Energy by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 21,258 shares of the energy company’s stock valued at $637,000 after purchasing an additional 518 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of SM Energy by 49.4% in the first quarter. Exchange Traded Concepts LLC now owns 37,095 shares of the energy company’s stock valued at $1,111,000 after buying an additional 12,261 shares in the last quarter. Byrne Asset Management LLC increased its holdings in SM Energy by 172.8% during the first quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company’s stock worth $44,000 after buying an additional 933 shares during the last quarter. SG Americas Securities LLC raised its position in SM Energy by 122.3% during the first quarter. SG Americas Securities LLC now owns 17,723 shares of the energy company’s stock worth $531,000 after acquiring an additional 9,751 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of SM Energy by 80.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company’s stock valued at $46,000 after acquiring an additional 679 shares during the period. 94.56% of the stock is currently owned by institutional investors and hedge funds.

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.