JPMorgan Chase & Co. Lowers SM Energy (NYSE:SM) Price Target to $41.00

SM Energy (NYSE:SM) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $54.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 44.12% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial increased their price target on SM Energy from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company cut their price target on shares of SM Energy from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Williams Trading set a $41.00 target price on SM Energy in a research note on Wednesday, March 5th. Finally, Mizuho reduced their price objective on shares of SM Energy from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

SM Energy Stock Performance

SM stock traded down $1.33 during midday trading on Thursday, hitting $28.45. The stock had a trading volume of 1,145,861 shares, compared to its average volume of 1,697,286. The company has a current ratio of 0.55, a quick ratio of 3.52 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $37.63 and a 200 day simple moving average of $40.51. SM Energy has a 52 week low of $26.66 and a 52 week high of $53.26. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 4.26 and a beta of 4.14.

SM Energy (NYSE:SM) last issued 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). The company had revenue of $852.22 million for the quarter, compared to the consensus estimate of $849.44 million. SM Energy had a net margin of 28.63% and a return on equity of 19.82%. As a group, equities research analysts anticipate that SM Energy will post 8.1 earnings per share for the current year.

Insider Buying and Selling at SM Energy

In related news, Director Barton R. Brookman, Jr. bought 7,000 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the director now owns 14,666 shares of the company’s stock, valued at $474,591.76. The trade was a 91.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Institutional Trading of SM Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in SM Energy in the 4th quarter valued at approximately $1,353,000. Public Employees Retirement System of Ohio lifted its stake in shares of SM Energy by 10.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 97,424 shares of the energy company’s stock worth $3,776,000 after acquiring an additional 9,080 shares during the period. Neo Ivy Capital Management boosted its holdings in SM Energy by 42.9% in the fourth quarter. Neo Ivy Capital Management now owns 84,933 shares of the energy company’s stock valued at $3,292,000 after acquiring an additional 25,507 shares during the last quarter. GTS Securities LLC raised its stake in SM Energy by 11.5% during the fourth quarter. GTS Securities LLC now owns 26,874 shares of the energy company’s stock worth $1,042,000 after buying an additional 2,774 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of SM Energy by 2.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,118,297 shares of the energy company’s stock worth $82,105,000 after acquiring an additional 42,297 shares in the last quarter. Institutional investors 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.