SM Energy (NYSE:SM) Receives “Neutral” Rating from JPMorgan Chase & Co.

SM Energy (NYSE:SM)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, Marketbeat reports. They presently have a $53.00 price target on the energy company’s stock, up from their previous price target of $51.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 26.76% from the stock’s current price.

A number of other analysts have also recently issued reports on SM. Wells Fargo & Company increased their price objective on SM Energy from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Stephens increased their price target on shares of SM Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. KeyCorp reduced their price objective on shares of SM Energy from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial lowered their target price on shares of SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price target on shares of SM Energy in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

SM Energy Price Performance

Shares of NYSE:SM opened at $41.81 on Wednesday. The firm has a market capitalization of $4.78 billion, a PE ratio of 5.84 and a beta of 4.14. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $43.28 and a two-hundred day moving average price of $44.39. SM Energy has a twelve month low of $34.13 and a twelve month high of $53.26.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $643.67 million. During the same period last year, the firm earned $1.73 EPS. SM Energy’s revenue for the quarter was up .4% on a year-over-year basis. Equities analysts forecast that SM Energy will post 6.77 EPS for the current year.

Institutional Trading of SM Energy

Several hedge funds have recently added to or reduced their stakes in SM. Tidal Investments LLC purchased a new position in shares of SM Energy in the third quarter worth about $445,000. World Investment Advisors LLC purchased a new position in SM Energy in the 3rd quarter worth approximately $3,048,000. Sanctuary Advisors LLC boosted its stake in shares of SM Energy by 5.6% during the third quarter. Sanctuary Advisors LLC now owns 33,173 shares of the energy company’s stock valued at $1,326,000 after purchasing an additional 1,774 shares during the period. Neo Ivy Capital Management bought a new position in shares of SM Energy in the third quarter worth approximately $2,376,000. Finally, Geode Capital Management LLC increased its stake in shares of SM Energy by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,693,372 shares of the energy company’s stock worth $107,675,000 after buying an additional 29,911 shares during the period. 94.56% of the stock is owned by 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.