KeyCorp Boosts SM Energy (NYSE:SM) Price Target to $62.00

SM Energy (NYSE:SM) had its price target hoisted by KeyCorp from $51.00 to $62.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

SM has been the topic of several other research reports. Seaport Res Ptn upgraded shares of SM Energy from a neutral rating to a buy rating in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a sector perform rating and issued a $45.00 price objective on shares of SM Energy in a research note on Monday, February 5th. Raymond James dropped their target price on SM Energy from $53.00 to $45.00 and set an outperform rating on the stock in a report on Monday, January 8th. JPMorgan Chase & Co. raised their price target on shares of SM Energy from $49.00 to $54.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Finally, Susquehanna upped their price objective on shares of SM Energy from $38.00 to $42.00 and gave the company a neutral rating in a research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $49.29.

SM Energy Price Performance

Shares of NYSE:SM opened at $50.42 on Friday. SM Energy has a 12 month low of $25.03 and a 12 month high of $53.26. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 7.34 and a beta of 4.20. The stock’s 50 day moving average price is $45.22 and its 200 day moving average price is $40.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.45.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.17. The firm had revenue of $608.73 million for the quarter, compared to analyst estimates of $611.35 million. SM Energy had a net margin of 34.45% and a return on equity of 20.74%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. Equities research analysts anticipate that SM Energy will post 6.21 earnings per share for the current fiscal year.

SM Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. SM Energy’s payout ratio is 10.48%.

Institutional Trading of SM Energy

A number of institutional investors have recently bought and sold shares of SM. DGS Capital Management LLC acquired a new stake in shares of SM Energy in the first quarter worth about $200,000. Miller Howard Investments Inc. NY lifted its position in shares of SM Energy by 1.2% in the first quarter. Miller Howard Investments Inc. NY now owns 88,118 shares of the energy company’s stock worth $4,393,000 after buying an additional 1,004 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of SM Energy in the first quarter worth about $203,000. Congress Asset Management Co. MA lifted its position in shares of SM Energy by 16.3% in the first quarter. Congress Asset Management Co. MA now owns 1,021,032 shares of the energy company’s stock worth $50,898,000 after buying an additional 143,293 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of SM Energy by 72.6% in the first quarter. Park Avenue Securities LLC now owns 10,305 shares of the energy company’s stock worth $514,000 after buying an additional 4,334 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

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.