SM Energy (NYSE:SM) Lowered to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada downgraded shares of SM Energy (NYSE:SM) from an outperform rating to a sector perform rating in a research note released on Thursday morning, Analyst Ratings Network reports. The firm currently has $27.00 price objective on the energy company’s stock, up from their prior price objective of $18.00. The analysts noted that the move was a valuation call.

SM has been the topic of several other research reports. Barclays increased their target price on SM Energy from $5.00 to $9.00 and gave the stock an underweight rating in a research note on Thursday, June 3rd. Wells Fargo & Company increased their target price on SM Energy from $21.00 to $25.00 and gave the stock an equal weight rating in a research note on Wednesday, May 19th. Finally, KeyCorp increased their target price on SM Energy from $20.00 to $28.00 and gave the stock an overweight rating in a research note on Friday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $14.72.

NYSE SM opened at $21.54 on Thursday. The stock has a market cap of $2.54 billion, a PE ratio of -4.08 and a beta of 6.15. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 1.28. SM Energy has a twelve month low of $1.34 and a twelve month high of $24.78. The business’s fifty day simple moving average is $18.29.

SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, April 29th. The energy company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.18. The business had revenue of $443.85 million during the quarter, compared to analysts’ expectations of $339.38 million. SM Energy had a negative return on equity of 1.25% and a negative net margin of 49.72%. Analysts expect that SM Energy will post -0.66 EPS for the current fiscal year.

The business also recently declared a Semi-Annual dividend, which was paid on Friday, May 7th. Shareholders of record on Friday, April 23rd were given a $0.01 dividend. This represents a yield of 0.1%. The ex-dividend date of this dividend was Thursday, April 22nd. SM Energy’s dividend payout ratio is currently -8.70%.

A number of hedge funds have recently bought and sold shares of SM. Comerica Bank raised its position in SM Energy by 1.6% in the 4th quarter. Comerica Bank now owns 119,757 shares of the energy company’s stock valued at $1,068,000 after purchasing an additional 1,847 shares in the last quarter. Bailard Inc. acquired a new stake in shares of SM Energy during the 4th quarter worth about $246,000. Ellevest Inc. raised its position in shares of SM Energy by 68.6% during the 4th quarter. Ellevest Inc. now owns 10,593 shares of the energy company’s stock worth $65,000 after acquiring an additional 4,311 shares in the last quarter. Syquant Capital Sas acquired a new stake in shares of SM Energy during the 4th quarter worth about $1,530,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of SM Energy during the 4th quarter worth about $69,000. 80.01% of the stock is currently owned by institutional investors.

SM Energy Company Profile

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 December 31, 2020, it had 404.6 million barrels of oil equivalent of estimated proved reserves; and working interests in 801 gross productive oil wells and 498 gross productive gas wells in the Midland Basin and South Texas.

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Analyst Recommendations for SM Energy (NYSE:SM)

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