KeyBanc Keeps Their Buy Rating on SM Energy (SM)
In a report released today, Leo Mariani from KeyBanc maintained a Buy rating on SM Energy (SM), with a price target of $13.00. The company’s shares closed last Monday at $7.78, close to its 52-week low of $7.50.
According to TipRanks.com, Mariani ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.7% and a 29.9% success rate. Mariani covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Whiting Petroleum Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SM Energy with a $12.88 average price target.
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Based on SM Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $50.39 million. In comparison, last year the company had a GAAP net loss of $136 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.