Entropy Technologies LP Takes $2.97 Million Position in SM Energy Company $SM

Entropy Technologies LP purchased a new stake in SM Energy Company (NYSE:SM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 95,162 shares of the energy company’s stock, valued at approximately $2,967,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of SM Energy by 27.7% during 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 boosted its holdings in shares of SM Energy by 43.9% in the 1st 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. grew its stake in shares of SM Energy by 4.6% in 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 buying an additional 2,969 shares in the last quarter. NewEdge Advisors LLC grew its stake 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 buying an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in SM Energy during the first quarter worth $222,000. 94.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SM has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. KeyCorp raised their target price on shares of SM Energy from $29.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. UBS Group started coverage on SM Energy in a report on Tuesday, July 14th. They set a “buy” rating and a $36.00 price target for the company. BMO Capital Markets boosted their price target on SM Energy from $26.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Finally, Susquehanna upped their price objective on SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.53.

SM Energy Price Performance

Shares of SM Energy stock opened at $33.19 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 13.94 and a beta of 0.73. SM Energy Company has a twelve month low of $17.45 and a twelve month high of $35.88. The company has a 50-day simple moving average of $30.23 and a two-hundred day simple moving average of $26.84.

SM Energy (NYSE:SM) last announced its earnings results 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 for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $1.76 EPS. The business’s revenue was up 75.0% compared to the same quarter last year. Analysts forecast that SM Energy Company will post 6.95 EPS for the current year.

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, June 8th. SM Energy’s payout ratio is 36.97%.

Insider Activity

In related news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the sale, the director owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.45% of the company’s stock.

About SM Energy

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.