Brokerages Set SM Energy Co. (SM) Price Target at $38.26
Shares of SM Energy Co. (NYSE:SM) have received an average rating of “Hold” from the twenty-nine brokerages that are covering the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $38.26.
Several equities research analysts recently weighed in on the company. Seaport Global Securities upgraded SM Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $53.00 in a research note on Tuesday, August 30th. Williams Capital assumed coverage on SM Energy in a research note on Monday, August 29th. They set a “buy” rating and a $57.00 target price for the company. KLR Group upgraded SM Energy from an “accumulate” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $43.00 in a research note on Tuesday, August 9th. Zacks Investment Research upgraded SM Energy from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Friday, August 19th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $24.00 target price on shares of SM Energy in a research note on Wednesday, August 3rd.
In related news, SVP Kenneth J. Knott sold 661 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $40.00, for a total transaction of $26,440.00. Following the transaction, the senior vice president now directly owns 43,417 shares in the company, valued at $1,736,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SM. TIAA CREF Investment Management LLC increased its position in SM Energy by 56.3% in the first quarter. TIAA CREF Investment Management LLC now owns 304,932 shares of the energy company’s stock valued at $5,714,000 after buying an additional 109,812 shares during the period. Teachers Advisors Inc. increased its position in SM Energy by 50.6% in the first quarter. Teachers Advisors Inc. now owns 127,246 shares of the energy company’s stock valued at $2,385,000 after buying an additional 42,748 shares during the period. JPMorgan Chase & Co. increased its position in SM Energy by 18.1% in the first quarter. JPMorgan Chase & Co. now owns 64,281 shares of the energy company’s stock valued at $1,205,000 after buying an additional 9,873 shares during the period. State Street Corp increased its position in SM Energy by 14.0% in the first quarter. State Street Corp now owns 3,778,006 shares of the energy company’s stock valued at $70,795,000 after buying an additional 464,526 shares during the period. Finally, Nuveen Asset Management LLC increased its position in SM Energy by 211.2% in the first quarter. Nuveen Asset Management LLC now owns 85,786 shares of the energy company’s stock valued at $1,608,000 after buying an additional 58,222 shares during the period. Hedge funds and other institutional investors own 86.46% of the company’s stock.
Shares of SM Energy (NYSE:SM) opened at 33.94 on Tuesday. The firm’s market cap is $2.95 billion. SM Energy has a 52 week low of $6.99 and a 52 week high of $43.09. The stock’s 50 day moving average is $36.48 and its 200-day moving average is $32.33.
The firm also recently announced a semiannual dividend, which was paid on Wednesday, November 2nd. Investors of record on Friday, October 21st were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, October 19th. This represents a yield of 0.29%. SM Energy’s dividend payout ratio (DPR) is presently -0.76%.
About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States.
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