Peregrine Capital Management LLC Buys Shares of 151,056 SM Energy (NYSE:SM)

Peregrine Capital Management LLC purchased a new position in shares of SM Energy (NYSE:SM) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 151,056 shares of the energy company’s stock, valued at approximately $6,530,000.

Several other hedge funds have also made changes to their positions in the business. Register Financial Advisors LLC purchased a new position in SM Energy in the first quarter valued at approximately $25,000. Hexagon Capital Partners LLC increased its stake in SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after purchasing an additional 474 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of SM Energy by 54.9% during the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock worth $29,000 after acquiring an additional 206 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of SM Energy by 665.6% during the first quarter. Global Retirement Partners LLC now owns 689 shares of the energy company’s stock worth $34,000 after acquiring an additional 599 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of SM Energy by 66.8% during the first quarter. UMB Bank n.a. now owns 829 shares of the energy company’s stock worth $41,000 after acquiring an additional 332 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Tudor, Pickering, Holt & Co. upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Mizuho raised their price objective on shares of SM Energy from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial dropped their target price on shares of SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Tudor Pickering raised shares of SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, StockNews.com raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SM Energy presently has an average rating of “Moderate Buy” and an average price target of $54.22.

SM Energy Stock Down 2.8 %

SM Energy stock traded down $1.33 during midday trading on Friday, hitting $45.63. 1,474,827 shares of the stock were exchanged, compared to its average volume of 1,731,111. SM Energy has a 1 year low of $34.13 and a 1 year high of $53.26. The firm has a market cap of $5.25 billion, a P/E ratio of 7.15 and a beta of 4.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50 day moving average price of $44.98 and a two-hundred day moving average price of $46.55.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.28. The firm had revenue of $634.56 million for the quarter, compared to the consensus estimate of $616.63 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. On average, sell-side analysts predict that SM Energy will post 7.09 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, July 19th. SM Energy’s payout ratio is currently 11.29%.

SM Energy Company 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.