Sterling Capital Management LLC lessened its stake in SM Energy Company (NYSE:SM – Free Report) by 82.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,942 shares of the energy company’s stock after selling 22,709 shares during the quarter. Sterling Capital Management LLC’s holdings in SM Energy were worth $167,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. James Investment Research Inc. acquired a new position in SM Energy in the 3rd quarter worth $226,000. Inspire Investing LLC raised its stake in shares of SM Energy by 28.8% in the 3rd quarter. Inspire Investing LLC now owns 33,461 shares of the energy company’s stock valued at $1,130,000 after purchasing an additional 7,478 shares during the period. Root Financial Partners LLC acquired a new stake in shares of SM Energy in the 3rd quarter valued at about $60,000. SBI Securities Co. Ltd. raised its stake in shares of SM Energy by 14.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 2,109 shares of the energy company’s stock valued at $71,000 after purchasing an additional 262 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of SM Energy in the third quarter valued at about $246,000. Institutional investors and hedge funds own 94.56% of the company’s stock.
SM Energy Price Performance
Shares of NYSE SM opened at $40.29 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50-day moving average of $37.15 and a 200-day moving average of $30.21. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 7.93 and a beta of 0.95. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $41.56.
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, topping the consensus estimate of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. SM Energy’s revenue was up 215.3% on a year-over-year basis. As a group, sell-side analysts predict that SM Energy Company will post 8.15 earnings per share for the current fiscal year.
SM Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 7th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. SM Energy’s dividend payout ratio is currently 17.32%.
Insider Buying and Selling
In related news, EVP James Barker Lebeck sold 17,500 shares of the firm’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 directly owned 14,705 shares of the company’s stock, valued at approximately $544,379.10. This trade represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ashwin Venkatraman sold 3,650 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $38.28, for a total transaction of $139,722.00. Following the completion of the transaction, the director directly owned 12,525 shares of the company’s stock, valued at $479,457. This represents a 22.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.45% of the company’s stock.
Analyst Upgrades and Downgrades
SM has been the subject of several recent research reports. Stifel Nicolaus started coverage on SM Energy in a research report on Wednesday, September 9th. They set a “hold” rating and a $42.00 price objective for the company. Scotiabank assumed coverage on SM Energy in a research report on Wednesday, October 14th. They issued a “sector perform” rating and a $39.00 target price on the stock. Zacks Research upgraded SM Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Wells Fargo & Company upgraded SM Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $47.00 in a research note on Thursday, August 13th. Finally, Mizuho set a $39.00 price target on SM Energy in a research report on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.59.
Check Out Our Latest Stock Analysis on SM
About SM Energy
SM Energy Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its activities include acquiring prospective acreage, drilling and completing wells, and managing producing properties in U.S. onshore oil and gas basins.
The company’s operations are primarily concentrated in Texas, including the Midland Basin in West Texas and the Eagle Ford shale region in South Texas. SM Energy focuses on development of unconventional resources and uses horizontal drilling and hydraulic fracturing technologies to produce hydrocarbons from shale and other tight-rock formations.
Founded in 1908 as St.
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