SM Energy (NYSE:SM) Upgraded at TD Cowen

SM Energy (NYSE:SM) was upgraded by equities research analysts at TD Cowen from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $60.00 price objective on the energy company’s stock, down from their prior price objective of $64.00. TD Cowen’s price target would suggest a potential upside of 34.44% from the stock’s previous close.

SM has been the subject of several other reports. Wells Fargo & Company reduced their price objective on SM Energy from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Mizuho dropped their price target on SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Tudor, Pickering, Holt & Co. upgraded SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Tudor Pickering upgraded shares of SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Truist Financial cut their price target on shares of SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.18.

SM Energy Price Performance

Shares of SM Energy stock opened at $44.63 on Tuesday. SM Energy has a 52 week low of $34.13 and a 52 week high of $53.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.13 billion, a PE ratio of 7.00 and a beta of 4.18. The company’s 50-day moving average price is $42.87 and its two-hundred day moving average price is $46.11.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The business had revenue of $634.56 million for the quarter, compared to the consensus estimate of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. As a group, sell-side analysts anticipate that SM Energy will post 6.96 EPS for the current fiscal year.

Institutional Investors Weigh In On SM Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in shares of SM Energy during the 1st quarter valued at $25,000. Plato Investment Management Ltd raised its holdings in SM Energy by 461.9% during 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 in the last quarter. Hexagon Capital Partners LLC raised its holdings in SM Energy by 509.7% during 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 in 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 worth $38,000 after buying an additional 340 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of SM Energy during the 2nd quarter worth about $44,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

About SM Energy

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.