SummitTX Capital L.P. Trims Position in SM Energy Company $SM

SummitTX Capital L.P. reduced its position in SM Energy Company (NYSE:SM) by 82.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 79,549 shares of the energy company’s stock after selling 369,013 shares during the period. SummitTX Capital L.P.’s holdings in SM Energy were worth $2,480,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. boosted its holdings in shares of SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock worth $25,000 after purchasing an additional 830 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in SM Energy by 10,461.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock worth $26,000 after buying an additional 1,360 shares during the period. Torren Management LLC lifted its position in SM Energy by 4,561.1% during the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock worth $26,000 after buying an additional 821 shares during the period. Global Retirement Partners LLC boosted its stake in SM Energy by 62.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock worth $26,000 after buying an additional 535 shares during the last quarter. Finally, Center for Financial Planning Inc. acquired a new stake in SM Energy in the 1st quarter worth about $31,000. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 24,553 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $33.98, for a total value of $834,310.94. Following the transaction, the director owned 65,964 shares in the company, valued at approximately $2,241,456.72. This trade represents a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

SM Energy Price Performance

SM stock opened at $29.76 on Wednesday. The stock has a 50-day moving average price of $30.08 and a two-hundred day moving average price of $27.07. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $35.88. 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 company has a market cap of $7.13 billion, a PE ratio of 12.50 and a beta of 0.73.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The company’s quarterly revenue was up 75.0% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. As a group, research analysts predict that SM Energy Company will post 6.95 EPS for the current year.

SM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 8th. SM Energy’s dividend payout ratio is 36.97%.

Analysts Set New Price Targets

A number of research firms have recently commented on SM. Siebert Williams Shank raised shares of SM Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $41.00 in a research note on Thursday, May 14th. Zacks Research cut shares of SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Wall Street Zen upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Susquehanna boosted their target price on shares of SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.53.

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.