LS Investment Advisors LLC increased its stake in shares of SM Energy Company (NYSE:SM) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 57,354 shares of the energy company’s stock after buying an additional 766 shares during the period. LS Investment Advisors LLC’s holdings in SM Energy were worth $948,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Causeway Capital Management LLC raised its stake in shares of SM Energy by 230.1% in the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock valued at $189,801,000 after buying an additional 4,816,230 shares in the last quarter. Reservoir Operations L.P. acquired a new stake in shares of SM Energy during the first quarter valued at about $80,383,000. Vanguard Group Inc. raised its stake in shares of SM Energy by 16.2% in the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock valued at $210,889,000 after buying an additional 1,226,564 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of SM Energy by 33.1% in the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock valued at $95,926,000 after buying an additional 994,186 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of SM Energy during the fourth quarter valued at about $33,761,000. Institutional investors and hedge funds own 97.84% of the company’s stock.
SM Energy Company (NYSE SM) opened at 17.33 on Friday. The stock’s 50 day moving average price is $16.55 and its 200-day moving average price is $23.08. The company’s market capitalization is $1.93 billion. SM Energy Company has a one year low of $13.76 and a one year high of $43.09.
SM Energy (NYSE:SM) last announced its earnings results on Tuesday, May 2nd. The energy company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.54. SM Energy had a negative return on equity of 3.28% and a negative net margin of 23.23%. The firm had revenue of $372.74 million for the quarter, compared to the consensus estimate of $309.43 million. Equities analysts forecast that SM Energy Company will post ($0.90) EPS for the current year.
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Several equities research analysts recently weighed in on SM shares. Credit Suisse Group AG started coverage on SM Energy in a report on Thursday, June 1st. They issued an “outperform” rating and a $30.00 price objective for the company. Scotiabank reissued a “buy” rating and issued a $33.00 price objective on shares of SM Energy in a report on Monday, March 27th. Williams Capital set a $40.00 price objective on SM Energy and gave the stock a “buy” rating in a report on Tuesday, May 16th. Bank of America Corporation lowered SM Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $48.00 to $37.00 in a report on Thursday, May 11th. Finally, Royal Bank Of Canada set a $36.00 price objective on SM Energy and gave the stock a “hold” rating in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. SM Energy presently has an average rating of “Hold” and a consensus price target of $35.65.
In other news, EVP Herbert S. Vogel purchased 3,000 shares of the stock in a transaction on Thursday, June 8th. The stock was bought at an average price of $16.60 per share, with a total value of $49,800.00. Following the transaction, the executive vice president now owns 32,637 shares in the company, valued at approximately $541,774.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Javan D. Ottoson purchased 2,000 shares of the stock in a transaction on Thursday, June 8th. The shares were purchased at an average cost of $16.44 per share, with a total value of $32,880.00. Following the transaction, the chief executive officer now owns 143,302 shares in the company, valued at approximately $2,355,884.88. The disclosure for this purchase can be found here. Insiders own 0.89% of the company’s stock.
About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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