Wells Fargo & Co Trims SM Energy (NYSE:SM) Target Price to $22.00

SM Energy (NYSE:SM) had its price target decreased by Wells Fargo & Co from $23.00 to $22.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the energy company’s stock.

Several other analysts have also recently commented on the stock. Barclays reduced their price objective on shares of SM Energy from $13.00 to $9.00 and set an underweight rating for the company in a research note on Friday, August 30th. Bank of America reiterated an underperform rating and issued a $14.00 price objective (down previously from $17.00) on shares of SM Energy in a research note on Friday, August 2nd. SunTrust Banks began coverage on shares of SM Energy in a research note on Tuesday, July 30th. They issued a hold rating and a $10.00 price objective for the company. Capital One Financial upgraded shares of SM Energy from an equal weight rating to an overweight rating in a research note on Thursday, May 23rd. Finally, ValuEngine upgraded shares of SM Energy from a sell rating to a hold rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $19.94.

SM stock opened at $10.83 on Friday. SM Energy has a one year low of $8.46 and a one year high of $33.76. The stock has a market capitalization of $1.18 billion, a PE ratio of 361.00 and a beta of 2.93. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.57 and a current ratio of 0.57. The company has a fifty day moving average of $9.94 and a 200-day moving average of $12.98.



SM Energy (NYSE:SM) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.13. SM Energy had a net margin of 2.91% and a negative return on equity of 2.07%. The firm had revenue of $407.17 million during the quarter, compared to analysts’ expectations of $407.53 million. During the same quarter last year, the business earned $0.15 earnings per share. Equities analysts forecast that SM Energy will post -0.39 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of SM. BlackRock Inc. increased its holdings in SM Energy by 31.0% during the 2nd quarter. BlackRock Inc. now owns 12,334,776 shares of the energy company’s stock valued at $154,433,000 after acquiring an additional 2,921,362 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of SM Energy during the second quarter worth about $41,961,000. Vanguard Group Inc. grew its holdings in shares of SM Energy by 5.6% during the second quarter. Vanguard Group Inc. now owns 10,926,493 shares of the energy company’s stock worth $136,799,000 after buying an additional 582,176 shares in the last quarter. Oslo Asset Management AS grew its holdings in shares of SM Energy by 18.8% during the second quarter. Oslo Asset Management AS now owns 2,956,528 shares of the energy company’s stock worth $37,016,000 after buying an additional 467,185 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of SM Energy by 31.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,453,732 shares of the energy company’s stock worth $18,201,000 after buying an additional 351,396 shares in the last quarter.

SM Energy Company Profile

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. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.

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