Wellington Management Group LLP lowered its stake in shares of SM Energy Company (NYSE:SM – Free Report) by 77.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 625,424 shares of the energy company’s stock after selling 2,124,526 shares during the quarter. Wellington Management Group LLP’s holdings in SM Energy were worth $16,324,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in SM. Kingsview Wealth Management LLC purchased a new position in shares of SM Energy during the second quarter valued at approximately $3,250,000. Empowered Funds LLC purchased a new stake in SM Energy in the second quarter worth approximately $1,941,000. Caitlin John LLC purchased a new stake in SM Energy in the second quarter worth approximately $262,000. Ruggaard & Associates LLC bought a new stake in SM Energy in the 2nd quarter worth approximately $225,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in SM Energy during the 2nd quarter valued at $153,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on SM. Susquehanna increased their price target on SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Roth Capital upgraded SM Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $30.00 to $41.00 in a report on Thursday, May 14th. Truist Financial raised their target price on SM Energy from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Seaport Research Partners assumed coverage on SM Energy in a research note on Thursday. They set a “sell” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, SM Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.93.
SM Energy Price Performance
Shares of SM Energy stock opened at $36.51 on Monday. The stock has a market cap of $8.68 billion, a P/E ratio of 7.19 and a beta of 0.75. 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 stock’s fifty day moving average is $32.09 and its 200 day moving average is $30.00. SM Energy Company has a one year low of $17.45 and a one year high of $38.94.
SM Energy (NYSE:SM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The business’s quarterly revenue was up 215.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.50 earnings per share. Sell-side analysts anticipate that SM Energy Company will post 7.48 earnings per share for the current year.
SM Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. SM Energy’s dividend payout ratio is 17.32%.
Insider Activity
In related news, EVP James Barker Lebeck sold 17,500 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the completion of the transaction, the executive vice president owned 14,705 shares of the company’s stock, valued at approximately $544,379.10. This represents a 54.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.45% of the stock is currently owned by company insiders.
SM Energy 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.
Featured Articles
- Five stocks we like better than SM Energy
- AI Token Costs Are Changing the Hardware vs. Software Debate
- 3 ETFs That Could Move as Rate Expectations Shift
- 3 Stocks With September Catalysts Investors Shouldn’t Ignore
- Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains
Want to see what other hedge funds are holding SM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SM Energy Company (NYSE:SM – Free Report).
Receive News & Ratings for SM Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SM Energy and related companies with MarketBeat.com's FREE daily email newsletter.
