Oliver Luxxe Assets LLC Trims Holdings in SM Energy Company $SM

Oliver Luxxe Assets LLC reduced its position in shares of SM Energy Company (NYSE:SM) by 30.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 68,050 shares of the energy company’s stock after selling 30,116 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in SM Energy were worth $1,776,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SM. Torren Management LLC lifted its stake in shares of SM Energy by 4,561.1% during the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock valued at $26,000 after buying an additional 821 shares during the period. Center for Financial Planning Inc. purchased a new stake in SM Energy in the 1st quarter worth approximately $31,000. Valued Wealth Advisors LLC acquired a new position in SM Energy in the 1st quarter valued at $33,000. Assetmark Inc. purchased a new position in shares of SM Energy during the 1st quarter worth $35,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of SM Energy by 332.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,129 shares of the energy company’s stock worth $35,000 after purchasing an additional 868 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insider Buying and Selling

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the transaction, the director directly owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This trade represents a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by company insiders.

SM Energy Price Performance

SM opened at $28.89 on Monday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $35.88. The company has a 50 day moving average of $29.79 and a two-hundred day moving average of $27.78. The company has a market cap of $6.87 billion, a P/E ratio of 5.69 and a beta of 0.73. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.85.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.23. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.02 billion. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business’s revenue for the quarter was up 215.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 EPS. On average, analysts expect that SM Energy Company will post 6.95 earnings per share for the current year.

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, June 8th. SM Energy’s dividend payout ratio is currently 17.32%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Raymond James Financial dropped their target price on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Mizuho raised SM Energy to a “strong-buy” rating in a research note on Friday, July 31st. UBS Group began coverage on SM Energy in a report on Tuesday, July 14th. They issued a “buy” rating and a $36.00 price target for the company. Truist Financial dropped their price objective on shares of SM Energy from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Zacks Research cut shares of SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.53.

SM Energy Company Profile

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.