Fintel reports that on May 20, 2026, Raymond James upgraded their outlook for SM Energy (NYSE:SM) from Underperform to Outperform.
Analyst Price Forecast Suggests 11.70% Upside
As of May 14, 2026, the average one-year price target for SM Energy is $38.33/share. The forecasts range from a low of $29.29 to a high of $60.90. The average price target represents an increase of 11.70% from its latest reported closing price of $34.32 / share.
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The projected annual revenue for SM Energy is 2,915MM, a decrease of 19.41%. The projected annual non-GAAP EPS is 10.75.
What is the Fund Sentiment?
There are 517 funds or institutions reporting positions in SM Energy. This is an decrease of 167 owner(s) or 24.42% in the last quarter. Average portfolio weight of all funds dedicated to SM is 0.17%, an increase of 3.89%. Total shares owned by institutions increased in the last three months by 68.24% to 238,442K shares. 
The put/call ratio of SM is 0.32, indicating a bullish outlook.
What are Other Shareholders Doing?
Vanguard Portfolio Management holds 15,234K shares representing 6.35% ownership of the company.
Canada Pension Plan Investment Board holds 14,494K shares representing 6.05% ownership of the company. In its prior filing, the firm reported owning 605K shares , representing an increase of 95.83%. The firm increased its portfolio allocation in SM by 3,753.04% over the last quarter.
Aristeia Capital holds 10,842K shares representing 4.52% ownership of the company. In its prior filing, the firm reported owning 355K shares , representing an increase of 96.73%. The firm increased its portfolio allocation in SM by 4,771.51% over the last quarter.
Vanguard Capital Management holds 10,538K shares representing 4.40% ownership of the company.
American Century Companies holds 8,924K shares representing 3.72% ownership of the company. In its prior filing, the firm reported owning 4,737K shares , representing an increase of 46.91%. The firm increased its portfolio allocation in SM by 221.67% over the last quarter.
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This story originally appeared on Fintel.
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