Saxon Interests Inc. Makes New Investment in SM Energy Company $SM

Saxon Interests Inc. acquired a new stake in shares of SM Energy Company (NYSE:SM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 34,166 shares of the energy company’s stock, valued at approximately $1,065,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SM. Royal Bank of Canada grew its position in SM Energy by 27.7% in the 1st 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 in the last quarter. AQR Capital Management LLC lifted 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 worth $4,370,000 after buying an additional 44,542 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 buying an additional 2,969 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of SM Energy by 44.9% in the first quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock valued at $97,000 after acquiring an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association bought a new position in shares of SM Energy in the first quarter valued at approximately $222,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Insider Activity

In related news, Director Ramiro G. Peru sold 24,553 shares of the company’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 transaction of $834,310.94. Following the sale, the director directly owned 65,964 shares in the company, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.45% of the stock is currently owned by company insiders.

SM Energy Stock Up 6.3%

Shares of NYSE SM opened at $28.01 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $6.71 billion, a PE ratio of 11.77 and a beta of 0.73. SM Energy Company has a one year low of $17.45 and a one year high of $35.88. The business’s fifty day moving average price is $30.15 and its 200-day moving average price is $25.81.

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

SM Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.1%. SM Energy’s payout ratio is 36.97%.

Analyst Upgrades and Downgrades

SM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded SM Energy from a “neutral” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Friday, March 20th. KeyCorp raised their target price on SM Energy from $29.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Truist Financial cut their price target on shares of SM Energy from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday. Roth Capital upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. Finally, BMO Capital Markets raised their price objective on shares of SM Energy from $26.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, April 2nd. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.