Riverhead Capital Management LLC trimmed its holdings in SM Energy Co (NYSE:SM) by 50.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,329 shares of the energy company’s stock after selling 28,350 shares during the period. Riverhead Capital Management LLC’s holdings in SM Energy were worth $342,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Atria Investments LLC acquired a new position in SM Energy during the 2nd quarter valued at $41,961,000. Oslo Asset Management AS raised its stake in SM Energy by 18.8% during the 2nd quarter. Oslo Asset Management AS now owns 2,956,528 shares of the energy company’s stock valued at $37,016,000 after purchasing an additional 467,185 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in SM Energy during the 1st quarter valued at $5,444,000. Allianz Asset Management GmbH raised its stake in SM Energy by 199.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 429,376 shares of the energy company’s stock valued at $5,375,000 after purchasing an additional 286,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in SM Energy by 53.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 739,625 shares of the energy company’s stock valued at $9,261,000 after purchasing an additional 258,737 shares during the last quarter. 98.92% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. Capital One Financial upgraded shares of SM Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. TheStreet lowered shares of SM Energy from a “c” rating to a “d+” rating in a report on Thursday, May 16th. Barclays decreased their price objective on shares of SM Energy from $13.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, August 30th. Jefferies Financial Group started coverage on shares of SM Energy in a report on Monday, July 29th. They set a “hold” rating and a $10.00 price objective on the stock. Finally, KeyCorp started coverage on shares of SM Energy in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.00.
SM stock traded down $0.08 during trading on Friday, hitting $9.77. The company had a trading volume of 67,339 shares, compared to its average volume of 3,268,421. The business has a 50-day moving average of $9.77 and a 200-day moving average of $13.22. SM Energy Co has a one year low of $8.46 and a one year high of $33.76. The stock has a market cap of $1.22 billion, a PE ratio of 327.33 and a beta of 2.93. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.97.
SM Energy (NYSE:SM) last announced its earnings results on Thursday, August 1st. The energy company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.13. SM Energy had a negative return on equity of 2.07% and a net margin of 2.91%. The business had revenue of $407.17 million for the quarter, compared to analysts’ expectations of $407.53 million. During the same period in the prior year, the business posted $0.15 earnings per share. Research analysts forecast that SM Energy Co will post -0.47 EPS for the current year.
About SM Energy
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.
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