SM Energy

SM · NYSE

$38.85−$0.04 (−0.10%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $38.89

SM analyst rating

HoldConsensus of 17 analysts over the last 12 months. 59% rate it a buy.

Strong buy0
Buy10
Hold6
Underperform0
Sell1

12-month price target · 21 analysts

Average $43.37 (+11.6% upside)

Low: $32.32
Now: $38.85
High: $60.90

Upgrades and downgrades

The latest rating actions, newest first

SM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Susquehanna	Oct 20, 2026	Maintains	Neutral	$32.00 → $44.00	56%
Scotiabank	Oct 15, 2026	Initiates	Sector Perform	$39.00	59%
Truist Securities	Oct 7, 2026	Maintains	Buy	$43.00 → $48.00	63%
Keybanc	Sep 15, 2026	Maintains	Overweight	$39.00 → $46.00	49%
UBS	Sep 14, 2026	Maintains	Buy	$36.00 → $48.00	65%
Seaport Global	Sep 3, 2026	Initiates	Sell	$35.00	67%
Wells Fargo	Aug 13, 2026	Upgrade	Equal-Weight → Overweight	$32.00 → $47.00	78%
Truist Securities	Aug 10, 2026	Maintains	Buy	$37.00 → $43.00	63%
Raymond James	Jul 21, 2026	Maintains	Outperform	$55.00 → $48.00	62%
Susquehanna	Jul 21, 2026	Maintains	Neutral	$31.00 → $32.00	56%

The case for and against

Updated Sep 10, 2026

Bull case

SM Energy is currently undergoing a portfolio transformation, with a focus on the prolific Permian and DJ basins. The company's strong asset base, as well as their successful divestiture and utilization of proceeds to reduce debt, have led to a strong future outlook. SM Energy's annual synergies from the CIVI acquisition, divestiture target, and reduction in net debt are expected to lead to a re-rating of the stock, making it a buy at its current valuation. Additionally, their focus and investments in operational efficiencies, such as longer laterals and pad drilling, have the potential to lead to increased free cash flow and dividend coverage.

Bear case

SM Energy is a company that has experienced a decline in its profitability, as evidenced by its lowered CFPS estimates and higher hedge loss projections. This could be attributed to its focus on three core basins, which may limit its potential for growth and diversification. Additionally, the company faces risks such as a decline in commodity prices, potential execution risks related to integrating recent acquisitions, and a relatively higher discount rate compared to industry standards. These factors lead to a negative outlook on the company's stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.