Equities researchers at MKM Partners assumed coverage on shares of SM Energy (NYSE:SM) in a report released on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $31.00 price target on the energy company’s stock. MKM Partners’ price target points to a potential upside of 59.55% from the stock’s current price.
Several other research firms also recently issued reports on SM. Scotiabank upgraded shares of SM Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 27th. Zacks Investment Research upgraded shares of SM Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, October 9th. Wells Fargo & Co upgraded shares of SM Energy from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Tuesday, October 23rd. Citigroup upped their price objective on shares of SM Energy to $29.00 and gave the company a “neutral” rating in a report on Friday, August 17th. Finally, Howard Weil upgraded shares of SM Energy from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, September 27th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $33.67.
Shares of SM Energy stock opened at $19.43 on Wednesday. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -23.55, a PEG ratio of 10.23 and a beta of 2.98. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.00. SM Energy has a one year low of $16.11 and a one year high of $33.76.
SM Energy (NYSE:SM) last announced its earnings results on Thursday, November 1st. The energy company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.17). The firm had revenue of $459.37 million during the quarter, compared to the consensus estimate of $429.63 million. SM Energy had a return on equity of 0.59% and a net margin of 8.56%. The business’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. On average, sell-side analysts anticipate that SM Energy will post 0.2 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of SM. Qube Research & Technologies Ltd purchased a new stake in SM Energy in the second quarter valued at approximately $109,000. IFP Advisors Inc boosted its position in SM Energy by 340.7% in the third quarter. IFP Advisors Inc now owns 4,341 shares of the energy company’s stock valued at $137,000 after buying an additional 3,356 shares during the last quarter. Russell Investments Group Ltd. boosted its position in SM Energy by 50.2% in the second quarter. Russell Investments Group Ltd. now owns 7,685 shares of the energy company’s stock valued at $199,000 after buying an additional 2,570 shares during the last quarter. Alambic Investment Management L.P. purchased a new stake in SM Energy in the third quarter valued at approximately $221,000. Finally, LPL Financial LLC purchased a new stake in SM Energy in the third quarter valued at approximately $232,000.
About SM Energy
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the Midland Basin and the Eagle Ford shale in Texas. As of December 31, 2017, the company had 468.1 million barrels of oil equivalent of estimated proved reserves; and working interests in 919 net productive oil wells and 489 net productive gas wells.
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