Williams Capital analyst Gabriele Sorbara reiterated a Buy rating on SM Energy (NYSE: SM) today and set a price target of $40. The company’s shares opened today at $21.50, close to its 52-week low of $19.32.
Sorbara observed:
“We have revised our 2017 produc�on es�mate to 125.3 Mboe/d ( up 3.1% from 121.4 Mboe/d previously). We have adjusted our 2018 and 2019 es�mates accordingly.”
According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -4.5% and a 44.7% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Rosetta Resources Inc, Gulfport Energy Corp, and Oasis Petroleum Inc.
Currently, the analyst consensus on SM Energy is Moderate Buy and the average price target is $34.33, representing a 59.7% upside.
In a report issued on May 3, Scotiabank also maintained a Buy rating on the stock with a $33 price target.
Based on SM Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $335 million and quarterly net profit of $74.43 million. In comparison, last year the company earned revenue of $212 million and had a GAAP net loss of $347 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
SM Energy Co. is an independent energy company, which is engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. The company was founded in 1908 and is headquartered in Denver, CO.