Brokerages Set SM Energy (NYSE:SM) PT at $50.67

SM Energy (NYSE:SMGet Rating) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $52.22.

SM has been the topic of several recent analyst reports. Barclays upped their price objective on shares of SM Energy from $40.00 to $55.00 and gave the company an “underweight” rating in a report on Tuesday, June 14th. KeyCorp initiated coverage on shares of SM Energy in a report on Monday. They set an “overweight” rating and a $64.00 price objective on the stock. Finally, MKM Partners restated a “buy” rating and set a $54.00 price objective on shares of SM Energy in a report on Wednesday, July 20th.

Insiders Place Their Bets

In other SM Energy news, EVP David W. Copeland sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $46.23, for a total value of $462,300.00. Following the sale, the executive vice president now owns 228,543 shares in the company, valued at approximately $10,565,542.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Patrick A. Lytle sold 8,658 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $45.61, for a total transaction of $394,891.38. Following the transaction, the chief accounting officer now owns 12,463 shares in the company, valued at approximately $568,437.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David W. Copeland sold 10,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $46.23, for a total value of $462,300.00. Following the transaction, the executive vice president now owns 228,543 shares in the company, valued at approximately $10,565,542.89. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of SM Energy by 1.7% during the 1st quarter. BlackRock Inc. now owns 19,579,955 shares of the energy company’s stock valued at $762,639,000 after buying an additional 331,004 shares in the last quarter. Vanguard Group Inc. raised its stake in SM Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 14,038,853 shares of the energy company’s stock valued at $546,814,000 after purchasing an additional 226,919 shares during the last quarter. State Street Corp raised its stake in SM Energy by 13.7% in the 1st quarter. State Street Corp now owns 7,002,705 shares of the energy company’s stock valued at $272,755,000 after purchasing an additional 842,589 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in SM Energy by 8.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,897,988 shares of the energy company’s stock valued at $151,837,000 after purchasing an additional 293,299 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in SM Energy by 35.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,249,967 shares of the energy company’s stock valued at $126,586,000 after purchasing an additional 849,019 shares during the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.

SM Energy Stock Performance

SM opened at $39.76 on Friday. SM Energy has a 52-week low of $22.72 and a 52-week high of $54.97. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. The company has a market cap of $4.87 billion, a P/E ratio of 5.59 and a beta of 4.84. The firm’s 50-day moving average price is $41.06 and its 200-day moving average price is $40.09.

SM Energy Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th will be given a $0.15 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend is Monday, October 24th. This is a positive change from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s dividend payout ratio is currently 0.28%.

About SM Energy

(Get Rating)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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