Wells Fargo & Co downgraded shares of SM Energy (NYSE:SM) from an outperform rating to a market perform rating in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has $23.00 price target on the energy company’s stock.

Several other equities analysts also recently commented on SM. Barclays reiterated a buy rating and set a $65.00 price target on shares of Owens Corning in a report on Monday, July 1st. TheStreet upgraded shares of ZTO Express (Cayman) from a c+ rating to a b rating in a research note on Thursday, May 16th. Cowen set a $27.00 target price on shares of Schnitzer Steel Industries and gave the stock a hold rating in a research note on Tuesday, April 9th. Susquehanna Bancshares set a $13.00 target price on shares of SM Energy and gave the stock a hold rating in a research note on Wednesday, June 19th. Finally, B. Riley set a $14.00 target price on shares of SM Energy and gave the stock a hold rating in a research note on Wednesday, June 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $25.81.

Shares of NYSE:SM opened at $11.04 on Monday. The company has a market cap of $1.31 billion, a P/E ratio of 368.00 and a beta of 2.98. SM Energy has a 12 month low of $10.17 and a 12 month high of $33.76. The firm’s 50-day moving average price is $11.81. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The firm had revenue of $340.90 million for the quarter, compared to the consensus estimate of $341.25 million. SM Energy had a net margin of 0.82% and a negative return on equity of 1.52%. The business’s revenue for the quarter was down 55.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, analysts predict that SM Energy will post -0.12 earnings per share for the current fiscal year.

In other SM Energy news, EVP David W. Copeland acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $12.71 per share, for a total transaction of $127,100.00. Following the completion of the purchase, the executive vice president now owns 106,454 shares in the company, valued at $1,353,030.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Javan D. Ottoson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $14.63 per share, for a total transaction of $73,150.00. Following the completion of the purchase, the chief executive officer now owns 182,126 shares of the company’s stock, valued at approximately $2,664,503.38. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 17,000 shares of company stock worth $225,070. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC boosted its stake in shares of SM Energy by 15.7% during the first quarter. Cerebellum GP LLC now owns 19,049 shares of the energy company’s stock valued at $333,000 after purchasing an additional 2,578 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of SM Energy during the first quarter valued at approximately $5,444,000. Marshall Wace LLP bought a new position in shares of SM Energy during the first quarter valued at approximately $679,000. Trexquant Investment LP purchased a new stake in SM Energy during the first quarter valued at approximately $2,593,000. Finally, Tyers Asset Management LLC lifted its position in SM Energy by 4.1% during the first quarter. Tyers Asset Management LLC now owns 46,732 shares of the energy company’s stock valued at $817,000 after acquiring an additional 1,848 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About SM Energy

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.

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Analyst Recommendations for SM Energy (NYSE:SM)

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