Ameriprise Financial Inc. Has $39.62 Million Holdings in SM Energy (NYSE:SM)

Ameriprise Financial Inc. trimmed its stake in shares of SM Energy (NYSE:SM) by 6.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,022,307 shares of the energy company’s stock after selling 67,641 shares during the period. Ameriprise Financial Inc.’s holdings in SM Energy were worth $39,624,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Gallacher Capital Management LLC increased its stake in SM Energy by 4.5% in the fourth quarter. Gallacher Capital Management LLC now owns 8,206 shares of the energy company’s stock valued at $318,000 after purchasing an additional 350 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in SM Energy by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,970 shares of the energy company’s stock valued at $464,000 after purchasing an additional 379 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake in SM Energy by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 97,800 shares of the energy company’s stock valued at $3,791,000 after purchasing an additional 400 shares in the last quarter. National Bank of Canada FI increased its stake in SM Energy by 7.6% in the fourth quarter. National Bank of Canada FI now owns 6,975 shares of the energy company’s stock valued at $270,000 after purchasing an additional 492 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of SM Energy by 7.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,823 shares of the energy company’s stock worth $291,000 after acquiring an additional 499 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Price Performance

SM opened at $23.15 on Monday. The firm has a market cap of $2.65 billion, a P/E ratio of 3.47 and a beta of 2.17. The firm has a 50-day moving average of $25.57 and a 200 day moving average of $35.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.52 and a current ratio of 0.55. SM Energy has a fifty-two week low of $19.67 and a fifty-two week high of $50.77.

SM Energy (NYSE:SM) last issued its earnings results on Thursday, May 1st. The energy company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.16. The firm had revenue of $844.54 million during the quarter, compared to analyst estimates of $814.62 million. SM Energy had a net margin of 28.63% and a return on equity of 19.82%. The company’s quarterly revenue was up 50.8% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. On average, research analysts expect that SM Energy will post 8.1 EPS for the current year.

SM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 18th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Thursday, April 17th. SM Energy’s payout ratio is 11.20%.

Insider Transactions at SM Energy

In related news, Director Barton R. Brookman, Jr. bought 7,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $32.36 per share, with a total value of $226,520.00. Following the completion of the purchase, the director now directly owns 14,666 shares of the company’s stock, valued at $474,591.76. This trade represents a 91.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

SM has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of SM Energy from $45.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. Truist Financial increased their price objective on shares of SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Susquehanna lowered their price objective on shares of SM Energy from $39.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. KeyCorp lowered their price objective on shares of SM Energy from $60.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of SM Energy from $54.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SM Energy has a consensus rating of “Moderate Buy” and an average target price of $44.00.

SM Energy Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.