Redwood Wealth Management Group LLC Invests $643,000 in SM Energy Company $SM

Redwood Wealth Management Group LLC acquired a new position in SM Energy Company (NYSE:SM) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,609 shares of the energy company’s stock, valued at approximately $643,000.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in SM Energy by 27.7% in the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock worth $2,753,000 after purchasing an additional 19,965 shares during the last quarter. AQR Capital Management LLC increased its position in shares of SM Energy by 43.9% during the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock valued at $4,370,000 after purchasing an additional 44,542 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SM Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock worth $2,040,000 after purchasing an additional 2,969 shares during the period. NewEdge Advisors LLC lifted its stake in shares of SM Energy by 44.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after purchasing an additional 1,007 shares during the period. Finally, United Services Automobile Association purchased a new position in shares of SM Energy in the first quarter worth approximately $222,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Price Performance

Shares of NYSE:SM opened at $26.13 on Wednesday. The company has a market capitalization of $6.26 billion, a P/E ratio of 10.98 and a beta of 0.72. SM Energy Company has a 1-year low of $17.45 and a 1-year high of $35.88. The firm’s 50 day simple moving average is $30.32 and its two-hundred day simple moving average is $25.54. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.39 and a quick ratio of 0.39.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 75.0% compared to the same quarter last year. Research analysts expect that SM Energy Company will post 7.3 EPS for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, June 8th. SM Energy’s payout ratio is presently 36.97%.

Insider Activity at SM Energy

In other news, Director Ramiro G. Peru sold 24,553 shares of the business’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 in the company, valued at $2,241,456.72. The trade was a 27.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on SM. KeyCorp increased their price target on shares of SM Energy from $29.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Wall Street Zen raised shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Mizuho upped their price objective 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 raised SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $30.00 to $41.00 in a report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, SM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

SM Energy 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.