Alliancebernstein L.P. lifted its position in SM Energy (NYSE:SM) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,813 shares of the energy company’s stock after buying an additional 14,860 shares during the period. Alliancebernstein L.P. owned about 0.14% of SM Energy worth $2,714,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its position in shares of SM Energy by 1.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,930 shares of the energy company’s stock valued at $703,000 after buying an additional 800 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in SM Energy by 1.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 70,036 shares of the energy company’s stock worth $429,000 after purchasing an additional 995 shares in the last quarter. Comerica Bank increased its holdings in SM Energy by 1.6% during the 4th quarter. Comerica Bank now owns 119,757 shares of the energy company’s stock worth $1,068,000 after purchasing an additional 1,847 shares in the last quarter. Wealthcare Capital Management LLC bought a new position in SM Energy during the 1st quarter worth about $49,000. Finally, Meeder Asset Management Inc. increased its holdings in SM Energy by 1,401.3% during the 1st quarter. Meeder Asset Management Inc. now owns 3,498 shares of the energy company’s stock worth $56,000 after purchasing an additional 3,265 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.
SM has been the subject of a number of research reports. Barclays increased their target price on SM Energy from $5.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, June 3rd. Wells Fargo & Company increased their price objective on shares of SM Energy from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 19th. KeyCorp increased their price objective on shares of SM Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, April 9th. Finally, Royal Bank of Canada downgraded shares of SM Energy from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $18.00 to $27.00 in a research note on Thursday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.72.
SM Energy (NYSE:SM) last issued its earnings results on Thursday, April 29th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.18. SM Energy had a negative net margin of 49.72% and a negative return on equity of 1.25%. The business had revenue of $443.85 million during the quarter, compared to the consensus estimate of $339.38 million. Equities research analysts anticipate that SM Energy will post -0.66 earnings per share for the current year.
The company also recently announced a Semi-Annual dividend, which was paid on Friday, May 7th. Investors of record on Friday, April 23rd were paid a $0.01 dividend. The ex-dividend date was Thursday, April 22nd. This represents a yield of 0.1%. SM Energy’s dividend payout ratio (DPR) is currently -8.70%.
SM Energy Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of December 31, 2020, it had 404.6 million barrels of oil equivalent of estimated proved reserves; and working interests in 801 gross productive oil wells and 498 gross productive gas wells in the Midland Basin and South Texas.
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