56,672 Shares in SM Energy Company $SM Bought by Readystate Asset Management LP

Readystate Asset Management LP purchased a new stake in SM Energy Company (NYSE:SM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 56,672 shares of the energy company’s stock, valued at approximately $1,767,000.

Other large investors also recently bought and sold shares of the company. Summit Global Investments increased its position in shares of SM Energy by 1.1% during the fourth quarter. Summit Global Investments now owns 46,417 shares of the energy company’s stock worth $868,000 after purchasing an additional 489 shares in the last quarter. State of Wyoming boosted its position in shares of SM Energy by 22.2% in the 4th quarter. State of Wyoming now owns 2,748 shares of the energy company’s stock valued at $51,000 after purchasing an additional 499 shares during the period. Global Retirement Partners LLC boosted its position in shares of SM Energy by 62.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after purchasing an additional 535 shares during the period. First Horizon Corp grew its stake in SM Energy by 57.4% during the 4th quarter. First Horizon Corp now owns 1,860 shares of the energy company’s stock worth $35,000 after buying an additional 678 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in SM Energy by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 22,211 shares of the energy company’s stock worth $415,000 after buying an additional 687 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insider Activity at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $33.98, for a total value of $834,310.94. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial reduced their price objective on SM Energy from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Susquehanna upped their target price on shares of SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Siebert Williams Shank upgraded shares of SM Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $41.00 in a research note on Thursday, May 14th. Zacks Research lowered SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wells Fargo & Company boosted their price target on SM Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, May 18th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.53.

SM Energy Stock Down 1.8%

SM Energy stock opened at $29.76 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. SM Energy Company has a 1-year low of $17.45 and a 1-year high of $35.88. The stock’s 50 day moving average price is $30.08 and its 200 day moving average price is $27.07. The company has a market cap of $7.13 billion, a PE ratio of 12.50 and a beta of 0.73.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The firm’s revenue was up 75.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.76 earnings per share. On average, sell-side analysts predict that SM Energy Company will post 6.95 EPS for the current fiscal year.

SM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, June 8th. SM Energy’s payout ratio is 36.97%.

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.