KeyCorp Cuts SM Energy (NYSE:SM) Price Target to $36.00

SM Energy (NYSE:SM) had its price objective lowered by investment analysts at KeyCorp from $60.00 to $36.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. KeyCorp’s target price would suggest a potential upside of 60.89% from the stock’s current price.

A number of other analysts have also issued reports on SM. Williams Trading set a $41.00 target price on shares of SM Energy in a research report on Wednesday, March 5th. StockNews.com downgraded SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on SM Energy from $54.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company decreased their target price on SM Energy from $45.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. Finally, Raymond James reduced their price target on shares of SM Energy from $59.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.83.

SM Energy Price Performance

Shares of SM Energy stock traded down $0.66 during trading on Monday, hitting $22.38. 323,630 shares of the company were exchanged, compared to its average volume of 1,866,265. SM Energy has a fifty-two week low of $19.67 and a fifty-two week high of $51.94. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $29.30 and a 200 day moving average price of $37.39. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 3.35 and a beta of 3.75.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). SM Energy had a net margin of 28.63% and a return on equity of 19.82%. The company had revenue of $852.22 million for the quarter, compared to analyst estimates of $849.44 million. On average, equities analysts expect that SM Energy will post 8.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Barton R. Brookman, Jr. bought 7,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $32.36 per share, for a total transaction of $226,520.00. Following the completion of the acquisition, the director now directly owns 14,666 shares in the company, valued at $474,591.76. This represents a 91.31 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SM Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in SM Energy by 22.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,632,255 shares of the energy company’s stock worth $179,546,000 after acquiring an additional 835,929 shares in the last quarter. American Century Companies Inc. lifted its position in SM Energy by 8.8% in the 4th quarter. American Century Companies Inc. now owns 3,682,093 shares of the energy company’s stock worth $142,718,000 after buying an additional 296,601 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of SM Energy by 40.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,131 shares of the energy company’s stock valued at $103,998,000 after buying an additional 767,779 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of SM Energy by 2.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,118,297 shares of the energy company’s stock worth $82,105,000 after acquiring an additional 42,297 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of SM Energy by 10.7% during the fourth quarter. Northern Trust Corp now owns 1,449,483 shares of the energy company’s stock worth $56,182,000 after acquiring an additional 140,228 shares in the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Company Profile

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.