Summit Global Investments Acquires New Position in SM Energy Company $SM

Summit Global Investments acquired a new stake in shares of SM Energy Company (NYSE:SM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,114 shares of the energy company’s stock, valued at approximately $447,000.

Several other large investors have also bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of 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 buying an additional 19,965 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of SM Energy by 43.9% during the first quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock valued at $4,370,000 after buying an additional 44,542 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of SM Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock valued at $2,040,000 after acquiring an additional 2,969 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of SM Energy by 44.9% during 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 purchased a new position in SM Energy in the 1st quarter worth approximately $222,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Stock Up 4.0%

SM Energy stock opened at $33.70 on Friday. SM Energy Company has a one year low of $17.45 and a one year high of $35.88. The stock has a fifty day moving average of $29.72 and a 200 day moving average of $28.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $8.02 billion, a PE ratio of 6.63 and a beta of 0.73.

SM Energy (NYSE:SM) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.23. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The business’s revenue for the quarter was up 215.3% on a year-over-year basis. During the same period last year, the firm posted $1.50 earnings per share. As a group, sell-side analysts predict that SM Energy Company will post 7.1 EPS for the current 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 paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, June 8th. SM Energy’s dividend payout ratio is 17.32%.

Insider Buying and Selling at SM Energy

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SM shares. Zacks Research cut SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Stephens reduced their target price on SM Energy from $61.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. UBS Group began coverage on SM Energy in a research note on Tuesday, July 14th. They issued a “buy” rating and a $36.00 price target for the company. Raymond James Financial lowered their price target on SM Energy from $55.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Finally, Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.93.

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.