JPMorgan Chase & Co. Raises SM Energy (NYSE:SM) Price Target to $54.00

SM Energy (NYSE:SM) had its target price increased by JPMorgan Chase & Co. from $50.00 to $54.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Several other equities research analysts also recently issued reports on the stock. Truist Financial lowered their price objective on shares of SM Energy from $46.00 to $38.00 and set a hold rating for the company in a research report on Monday, September 30th. BMO Capital Markets cut their price objective on shares of SM Energy from $50.00 to $48.00 and set a market perform rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company reduced their target price on shares of SM Energy from $48.00 to $43.00 and set an equal weight rating for the company in a report on Tuesday, October 1st. Tudor Pickering upgraded shares of SM Energy to a strong-buy rating in a research note on Wednesday, August 21st. Finally, Stephens restated an overweight rating and set a $63.00 price objective on shares of SM Energy in a research note on Thursday, June 27th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $51.40.

SM Energy Stock Up 1.2 %

Shares of SM stock opened at $44.89 on Tuesday. The firm has a fifty day moving average of $42.66 and a 200-day moving average of $46.22. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 6.46 and a beta of 4.18.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.28. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The company had revenue of $634.56 million during the quarter, compared to the consensus estimate of $616.63 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts predict that SM Energy will post 6.96 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, October 25th. SM Energy’s dividend payout ratio is presently 10.36%.

Hedge Funds Weigh In On SM Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC acquired a new stake in shares of SM Energy in the first quarter valued at approximately $25,000. Plato Investment Management Ltd lifted its position in shares of SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after buying an additional 485 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after buying an additional 474 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of SM Energy by 63.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock valued at $38,000 after buying an additional 340 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of SM Energy by 66.8% in the first quarter. UMB Bank n.a. now owns 829 shares of the energy company’s stock valued at $41,000 after buying an additional 332 shares during 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.