Quantitative Investment Management LLC acquired a new stake in shares of SM Energy Company (NYSE:SM – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 19,486 shares of the energy company’s stock, valued at approximately $508,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in SM Energy by 112.1% during the first quarter. Royal Bank of Canada now owns 94,115 shares of the energy company’s stock valued at $2,935,000 after purchasing an additional 49,740 shares during the period. GSA Capital Partners LLP bought a new position in shares of SM Energy in the second quarter worth about $2,243,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of SM Energy by 96.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 114,609 shares of the energy company’s stock worth $2,143,000 after buying an additional 56,160 shares during the period. Denali Advisors LLC lifted its position in shares of SM Energy by 22.2% during the 4th quarter. Denali Advisors LLC now owns 300,000 shares of the energy company’s stock valued at $5,610,000 after buying an additional 54,428 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of SM Energy by 23.0% during the 4th quarter. UBS Group AG now owns 666,070 shares of the energy company’s stock valued at $12,456,000 after buying an additional 124,448 shares in the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.
SM Energy Stock Performance
Shares of NYSE SM opened at $38.00 on Wednesday. The company has a market cap of $9.04 billion, a P/E ratio of 7.48 and a beta of 0.73. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $38.25. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s fifty day moving average is $31.43 and its two-hundred day moving average is $29.66.
SM Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. SM Energy’s dividend payout ratio is presently 17.32%.
Wall Street Analyst Weigh In
A number of research firms have commented on SM. Truist Financial raised their target price on shares of SM Energy from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Roth Capital raised shares of SM Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $32.00 in a research note on Monday, June 22nd. Siebert Williams Shank upgraded shares of SM Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from $30.00 to $41.00 in a research report on Thursday, May 14th. Stephens lowered their target price 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. Finally, Raymond James Financial dropped their target price on shares of SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.93.
Read Our Latest Report on SM Energy
Insider Buying and Selling
In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $37.02, for a total transaction of $647,850.00. Following the completion of the transaction, the executive vice president owned 14,705 shares in the company, valued at $544,379.10. This trade represents a 54.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.45% of the company’s stock.
About SM Energy
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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