SM Energy (NYSE:SM) Position Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its position in shares of SM Energy (NYSE:SM) by 144.6% in the third quarter, HoldingsChannel reports. The firm owned 22,357 shares of the energy company’s stock after acquiring an additional 13,215 shares during the period. Janney Montgomery Scott LLC’s holdings in SM Energy were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of SM Energy by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock valued at $274,161,000 after buying an additional 384,675 shares during the period. American Century Companies Inc. raised its position in SM Energy by 1.2% during the second quarter. American Century Companies Inc. now owns 2,361,149 shares of the energy company’s stock valued at $102,072,000 after acquiring an additional 28,005 shares in the last quarter. Westwood Holdings Group Inc. increased its position in SM Energy by 10.2% during the second quarter. Westwood Holdings Group Inc. now owns 1,709,927 shares of the energy company’s stock worth $73,920,000 after buying an additional 157,923 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in SM Energy by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,335,624 shares of the energy company’s stock worth $57,739,000 after purchasing an additional 4,611 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in SM Energy by 929.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock valued at $50,125,000 after buying an additional 1,046,872 shares during the last quarter. Institutional investors own 94.56% of the company’s stock.

SM Energy Trading Down 2.1 %

Shares of SM Energy stock opened at $43.33 on Friday. The stock has a market cap of $4.96 billion, a P/E ratio of 6.05 and a beta of 4.18. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.67. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The business’s 50 day moving average is $42.19 and its 200-day moving average is $44.83.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.10. The firm had revenue of $643.60 million for the quarter, compared to analyst estimates of $643.67 million. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 earnings per share. Equities research analysts predict that SM Energy will post 6.77 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, October 25th. This is a positive change from SM Energy’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.85%. SM Energy’s payout ratio is presently 11.17%.

Analyst Ratings Changes

SM has been the subject of several research analyst reports. Stephens upped their target price on shares of SM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho dropped their price target on SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Truist Financial reduced their price objective on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, September 30th. StockNews.com lowered shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price target on shares of SM Energy in a research report on Tuesday, October 8th. Six 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.73.

About SM Energy

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.