US Bancorp DE reduced its stake in shares of SM Energy (NYSE:SM – Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,159 shares of the energy company’s stock after selling 492 shares during the quarter. US Bancorp DE’s holdings in SM Energy were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new stake in shares of SM Energy in the 4th quarter worth approximately $2,992,000. Miller Howard Investments Inc. NY acquired a new stake in SM Energy in the fourth quarter valued at $3,373,000. Tributary Capital Management LLC grew its holdings in SM Energy by 27.3% in the fourth quarter. Tributary Capital Management LLC now owns 574,120 shares of the energy company’s stock valued at $22,230,000 after purchasing an additional 123,126 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SM Energy by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,593,103 shares of the energy company’s stock valued at $61,685,000 after buying an additional 64,781 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of SM Energy by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 198,380 shares of the energy company’s stock worth $7,681,000 after buying an additional 21,102 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on SM. Royal Bank of Canada reissued a “sector perform” rating and issued a $54.00 price objective on shares of SM Energy in a research note on Tuesday, July 9th. Truist Financial dropped their price objective on shares of SM Energy from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Monday, July 1st. JPMorgan Chase & Co. lifted their price objective on SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. KeyCorp increased their target price on SM Energy from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, StockNews.com cut SM Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.89.
SM Energy Trading Up 1.0 %
Shares of SM Energy stock opened at $47.27 on Friday. SM Energy has a fifty-two week low of $33.92 and a fifty-two week high of $53.26. The business’s fifty day moving average is $47.19 and its two-hundred day moving average is $44.99. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market cap of $5.44 billion, a PE ratio of 7.41 and a beta of 4.20.
SM Energy (NYSE:SM – Get Free Report) last released its earnings results on Thursday, May 2nd. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.28 by $0.13. SM Energy had a return on equity of 20.10% and a net margin of 31.80%. The firm had revenue of $559.87 million during the quarter, compared to analyst estimates of $568.21 million. Analysts anticipate that SM Energy will post 7.3 earnings per share for the current year.
SM Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.52%. SM Energy’s dividend payout ratio is presently 11.29%.
Insider Activity at SM Energy
In related news, SVP Kenneth J. Knott sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $50.28, for a total transaction of $804,480.00. Following the completion of the transaction, the senior vice president now owns 114,495 shares of the company’s stock, valued at $5,756,808.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by insiders.
About SM Energy
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.
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Source: americanbankingnews.com
