SM Energy (NYSE:SM) Now Covered by KeyCorp

KeyCorp began coverage on shares of SM Energy (NYSE:SMGet Rating) in a research report report published on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $64.00 price target on the energy company’s stock. KeyCorp also issued estimates for SM Energy’s Q3 2022 earnings at $2.06 EPS, Q4 2022 earnings at $2.06 EPS, FY2022 earnings at $8.29 EPS, Q1 2023 earnings at $3.06 EPS, Q2 2023 earnings at $2.43 EPS, Q3 2023 earnings at $2.47 EPS, Q4 2023 earnings at $2.71 EPS and FY2023 earnings at $10.68 EPS.

Several other equities research analysts have also recently weighed in on the company. Barclays increased their price objective on SM Energy from $40.00 to $55.00 and gave the stock an underweight rating in a report on Tuesday, June 14th. MKM Partners reiterated a buy rating and issued a $54.00 price objective on shares of SM Energy in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $52.22.

SM Energy Trading Down 3.0 %

NYSE SM opened at $39.76 on Monday. SM Energy has a fifty-two week low of $22.72 and a fifty-two week high of $54.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50 day simple moving average of $41.06 and a two-hundred day simple moving average of $40.09. The stock has a market cap of $4.87 billion, a P/E ratio of 5.59 and a beta of 4.84.

SM Energy Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Monday, November 7th. Stockholders of record on Tuesday, October 25th will be paid a $0.15 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, October 24th. This is a boost from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s dividend payout ratio (DPR) is presently 0.28%.

Insider Activity

In related news, EVP David W. Copeland sold 10,000 shares of the firm’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 transaction of $462,300.00. Following the completion of the transaction, the executive vice president now owns 228,543 shares of the company’s stock, valued at approximately $10,565,542.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Patrick A. Lytle sold 8,658 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 12,463 shares of the company’s stock, valued at approximately $568,437.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David W. Copeland sold 10,000 shares of SM Energy stock in a transaction 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 completion of the sale, the executive vice president now directly owns 228,543 shares of the company’s stock, valued at approximately $10,565,542.89. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of SM Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System increased its holdings in shares of SM Energy by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 48,711 shares of the energy company’s stock worth $1,897,000 after purchasing an additional 284 shares in the last quarter. Congress Asset Management Co. MA grew its holdings in shares of SM Energy by 0.3% in the second quarter. Congress Asset Management Co. MA now owns 90,195 shares of the energy company’s stock worth $3,084,000 after acquiring an additional 296 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of SM Energy by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the energy company’s stock worth $2,382,000 after acquiring an additional 300 shares during the period. Eaton Vance Management grew its holdings in shares of SM Energy by 3.8% in the first quarter. Eaton Vance Management now owns 8,361 shares of the energy company’s stock worth $326,000 after acquiring an additional 309 shares during the period. Finally, Advisor Partners LLC grew its holdings in shares of SM Energy by 4.7% in the first quarter. Advisor Partners LLC now owns 8,341 shares of the energy company’s stock worth $325,000 after acquiring an additional 372 shares during the period. Institutional investors own 90.53% of the company’s stock.

SM Energy Company Profile

(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.

See Also

Analyst Recommendations for SM Energy (NYSE:SM)

Receive News & Ratings for SM Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SM Energy and related companies with MarketBeat.com's FREE daily email newsletter.