Horizon Investment Services LLC acquired a new position in shares of SM Energy Company (NYSE:SM – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 19,595 shares of the energy company’s stock, valued at approximately $511,000.
A number of other hedge funds have also made changes to their positions in SM. Royal Bank of Canada boosted its stake in shares of SM Energy by 27.7% in the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock worth $2,753,000 after acquiring an additional 19,965 shares during the last quarter. AQR Capital Management LLC raised its stake in SM Energy by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock valued at $4,370,000 after purchasing an additional 44,542 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in SM Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock valued at $2,040,000 after purchasing an additional 2,969 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of SM Energy by 44.9% during the first quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after buying an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of SM Energy in the first quarter valued at about $222,000. Institutional investors and hedge funds own 94.56% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Stephens decreased their price target on shares of SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Raymond James Financial cut their target price on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Mizuho raised shares of SM Energy to a “strong-buy” rating in a research report on Friday, July 31st. Weiss Ratings raised shares of SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company upgraded SM Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $47.00 in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.93.
Insider Activity
In other news, Director Ramiro G. Peru sold 24,553 shares of SM Energy stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the completion of the transaction, the director owned 65,964 shares in the company, valued at approximately $2,241,456.72. This trade represents a 27.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.45% of the company’s stock.
SM Energy Stock Down 0.1%
SM Energy stock opened at $33.70 on Monday. SM Energy Company has a twelve month low of $17.45 and a twelve month high of $35.88. The stock’s fifty day simple moving average is $29.72 and its 200-day simple moving average is $28.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $8.02 billion, a P/E ratio of 6.63 and a beta of 0.73.
SM Energy (NYSE:SM – Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business posted $1.50 earnings per share. SM Energy’s revenue was up 215.3% compared to the same quarter last year. As a group, equities analysts expect that SM Energy Company will post 7.1 earnings per share for the current fiscal year.
SM Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. SM Energy’s dividend payout ratio (DPR) is currently 17.32%.
SM Energy Company Profile
SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.
The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.
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