Williams Capital analyst Gabriele Sorbara reiterated a Buy rating on SM Energy (SM) today and set a price target of $28. The company’s shares closed yesterday at $15.20, close to its 52-week low of $13.15.
Sorbara said:
“We model 2019 capex to $1.04 billion for total producon growth of 8.6% and oil producon growth of 10.5%.”
According to TipRanks.com, Sorbara ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.4% and a 35.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
SM Energy has an analyst consensus of Moderate Buy, with a price target consensus of $22.22.
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Based on SM Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $310 million. In comparison, last year the company had a net profit of $317 million.
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SM Energy Co. is an independent energy company, which is engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids. Its operations are located in South Texas and Gulf Coast, Rocky Mountain, and Permian regions. The company was founded in 1908 and is headquartered in Denver, CO.
