Energy levels in Sm 148 and Sm 160 have been observed via the reactions Sm 147 (^)Sm 148 , Sm 149 (d,^>)Sm 150 , Sm 148 (^')Sm 148 , and Sm 150 (^,^')Sm 160 a t 12-MeV bombarding energy. Reaction products were analyzed in a 0.1% energy resolution magnetic spectrograph using emulsion techniques. Levels below 1.9-MeV excitation are found to have much smaller (d,p) cross sections than those above this energy. Many previously unknown levels above 1-MeV excitation have been found in both these nuclei. The observed levels are compared with previous studies of these nuclei. Several of the positive parity levels in Sm 148 can be fitted to an asymmetric rotor-vibrator spectrum. The excited states in Sm 160 can be approximated, but not fitted exactly, with this model. The observed low-lying states in these nuclei are discussed in terms of expected level structure for collective models. The ground-state Q values for the reactions Sm 147 (d,^>)Sm 148 and Sm 149 (#,/>)Sm 160 are determined to be 5920=bl0 keV and 5764±4 keV, respectively.