SM Energy (NYSE:SM) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded SM Energy from “buy” to “strong buy.” Other analysts also raised price targets, contributing to a consensus “moderate buy” rating and an average target of $39.38.
• SM Energy reported strong quarterly results, with EPS of $2.19 versus the $1.96 consensus and revenue of $2.50 billion, up 215.3% year over year.
• SM Energy shares opened at $37.03, near their 12-month high of $41.56. Insiders recently sold shares, while institutional investors own a substantial 94.56% of the company.

SM Energy (NYSE:SM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. KeyCorp upped their price objective on shares of SM Energy from $39.00 to $46.00 and gave the stock an "overweight" rating in a report on Tuesday. Wells Fargo & Company upgraded shares of SM Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $32.00 to $47.00 in a report on Thursday, August 13th. Truist Financial boosted their target price on shares of SM Energy from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Susquehanna raised their price target on SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of SM Energy in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.38.

SM Energy Stock Up 0.2%

Shares of SM stock opened at $37.03 on Friday. The stock's 50 day simple moving average is $34.28 and its 200 day simple moving average is $31.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. SM Energy has a twelve month low of $17.45 and a twelve month high of $41.56. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 7.29 and a beta of 0.75.

SM Energy (NYSE:SM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter in the prior year, the business earned $1.50 earnings per share. The company's revenue was up 215.3% on a year-over-year basis. As a group, research analysts predict that SM Energy will post 7.48 EPS for the current year.

Insider Activity at SM Energy

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the sale, the executive vice president owned 14,705 shares of the company's stock, valued at $544,379.10. The trade was a 54.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ashwin Venkatraman sold 3,650 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $38.28, for a total transaction of $139,722.00. Following the completion of the transaction, the director owned 12,525 shares of the company's stock, valued at approximately $479,457. This represents a 22.57% decrease in their position. The SEC filing for this sale provides additional information. 0.45% of the stock is currently owned by company insiders.

Institutional Trading of SM Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC grew its stake in shares of SM Energy by 4,561.1% in the 1st quarter. Torren Management LLC now owns 839 shares of the energy company's stock valued at $26,000 after purchasing an additional 821 shares during the period. Center for Financial Planning Inc. acquired a new stake in SM Energy in the 1st quarter valued at $31,000. Valued Wealth Advisors LLC acquired a new stake in SM Energy in the 1st quarter valued at $33,000. Kilter Group LLC bought a new stake in SM Energy in the second quarter valued at $28,000. Finally, Assetmark Inc. bought a new stake in SM Energy in the first quarter valued at $35,000. Institutional investors own 94.56% of the company's stock.

About SM Energy

SM Energy Company NYSE: SM is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. Its operations focus on acquiring and developing oil and gas properties and producing hydrocarbons from onshore assets in the United States.

The company's principal operations are concentrated in the Permian Basin of West Texas and the South Texas region. SM Energy has also expanded its U.S. operating portfolio through acquisitions, including assets in Utah's Uinta Basin.

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