SM Energy slides as crude oil plunges on Strait of Hormuz reopening

SM Energy (SM) is down 7.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a sharp drop in oil prices, which typically pressures exploration-and-production stocks due to lower expected realized prices and cash flows. The move may also reflect lingering caution after recent analyst rating changes and broader volatility tied to Middle East supply headlines.

Details:

U.S. benchmark crude oil fell about 9.4% to $82.59 per barrel, with Brent down about 9.1% to $90.38, after Iran indicated the Strait of Hormuz was open again for commercial tankers.

SM Energy’s 2026 plan is oil-weighted (about 54% oil mix in full-year guidance), so large same-day moves in crude can translate quickly into lower near-term earnings expectations.

In its 2026 outlook, the company framed guidance using a $60 WTI assumption, underscoring how investor models often tie SM’s valuation to changes in oil pricing.

Recent sell-side activity included a Roth Capital downgrade to Neutral (April 8, 2026), which can amplify downside on risk-off days for the energy complex.

Sources:

Associated Press, SM Energy, Benzinga

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$SM Hedge Fund Activity

We have seen 191 institutional investors add shares of $SM stock to their portfolio, and 223 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WESTWOOD HOLDINGS GROUP INC removed 3,637,348 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $68,018,407
MACQUARIE GROUP LTD removed 3,166,912 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $59,221,254
WOODLINE PARTNERS LP removed 2,303,043 shares (-94.8%) from their portfolio in Q4 2025, for an estimated $43,066,904
MILLENNIUM MANAGEMENT LLC added 1,906,255 shares (+205.1%) to their portfolio in Q4 2025, for an estimated $35,646,968
RIVER ROAD ASSET MANAGEMENT, LLC removed 1,721,765 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $32,197,005
ALYESKA INVESTMENT GROUP, L.P. added 1,654,891 shares (+268.3%) to their portfolio in Q4 2025, for an estimated $30,946,461
INVESCO LTD. removed 1,560,676 shares (-67.2%) from their portfolio in Q4 2025, for an estimated $29,184,641

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$SM Price Targets

Multiple analysts have issued price targets for $SM recently. We have seen 10 analysts offer price targets for $SM in the last 6 months, with a median target of $33.0.

Here are some recent targets:

Leo Mariani from Roth Capital set a target price of $33.0 on 04/08/2026
Tim Rezvan from Keybanc set a target price of $39.0 on 04/02/2026
Phillip Jungwirth from BMO Capital set a target price of $33.0 on 04/02/2026
Gabe Daoud from Truist Securities set a target price of $38.0 on 03/24/2026
Zach Parham from JP Morgan set a target price of $40.0 on 03/20/2026
Hanwen Chang from Wells Fargo set a target price of $25.0 on 03/19/2026
Robert Hodges from TD Cowen set a target price of $30.0 on 03/17/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.