Corigliano Investment Advisers LLC Takes Position in SM Energy Company $SM

Corigliano Investment Advisers LLC purchased a new position in shares of SM Energy Company (NYSE:SM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 462,800 shares of the energy company’s stock, valued at approximately $8,654,000. SM Energy comprises 3.1% of Corigliano Investment Advisers LLC’s holdings, making the stock its 12th biggest holding. Corigliano Investment Advisers LLC owned about 0.40% of SM Energy as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC purchased a new position in SM Energy during the 3rd quarter worth approximately $4,619,000. Dynamic Technology Lab Private Ltd purchased a new position in SM Energy during the 3rd quarter worth approximately $1,190,000. Denali Advisors LLC grew its stake in SM Energy by 22.2% during the 4th quarter. Denali Advisors LLC now owns 300,000 shares of the energy company’s stock worth $5,610,000 after buying an additional 54,428 shares during the last quarter. Kennedy Capital Management LLC grew its stake in SM Energy by 70.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 574,107 shares of the energy company’s stock worth $14,335,000 after buying an additional 237,537 shares during the last quarter. Finally, Royce & Associates LP grew its stake in SM Energy by 22.6% during the 3rd quarter. Royce & Associates LP now owns 356,608 shares of the energy company’s stock worth $8,905,000 after buying an additional 65,732 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Stock Up 0.2%

SM Energy stock opened at $28.10 on Thursday. SM Energy Company has a twelve month low of $17.45 and a twelve month high of $35.88. The stock has a 50 day moving average of $30.60 and a two-hundred day moving average of $25.11. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 11.81 and a beta of 0.72.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $1.76 EPS. The firm’s revenue for the quarter was up 75.0% on a year-over-year basis. As a group, research analysts expect that SM Energy Company will post 7.29 earnings per share for the current year.

SM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, June 8th. SM Energy’s dividend payout ratio (DPR) is presently 36.97%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SM. Roth Mkm restated a “neutral” rating and set a $33.00 price target (up from $24.00) on shares of SM Energy in a research note on Wednesday, April 8th. Mizuho raised their price target on SM Energy from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Susquehanna raised their price target on SM Energy from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. raised SM Energy from a “neutral” rating to an “overweight” rating and set a $40.00 price objective for the company in a research report on Friday, March 20th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, SM Energy presently has a consensus rating of “Moderate Buy” and an average price target of $37.07.

Insiders Place Their Bets

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the completion of the sale, the director directly owned 65,964 shares of the company’s stock, valued at approximately $2,241,456.72. This trade represents a 27.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.45% of the company’s stock.

About SM Energy

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.