Kingsview Wealth Management LLC Takes Position in SM Energy Company $SM

Kingsview Wealth Management LLC purchased a new position in shares of SM Energy Company (NYSE:SM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 124,537 shares of the energy company’s stock, valued at approximately $3,250,000.

Several other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in SM Energy in the 2nd quarter valued at about $1,941,000. Caitlin John LLC bought a new position in SM Energy during the second quarter worth about $262,000. Ruggaard & Associates LLC purchased a new position in shares of SM Energy in the second quarter worth about $225,000. Public Employees Retirement System of Ohio purchased a new position in shares of SM Energy in the second quarter worth about $153,000. Finally, Redwood Investment Management LLC purchased a new position in shares of SM Energy in the second quarter worth about $2,161,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Price Performance

NYSE:SM opened at $36.59 on Friday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $38.25. The stock has a fifty day moving average of $31.02 and a 200 day moving average of $29.37. 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 firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 7.20 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 for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company earned $1.50 EPS. The company’s quarterly revenue was up 215.3% compared to the same quarter last year. On average, research analysts expect that SM Energy Company will post 7.45 EPS for the current fiscal year.

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. SM Energy’s payout ratio is presently 17.32%.

Insider Buying and Selling at SM Energy

In related news, EVP James Barker Lebeck sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the transaction, the executive vice president directly owned 14,705 shares in the company, valued at approximately $544,379.10. This represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group initiated coverage on shares of SM Energy in a research note on Tuesday, July 14th. They set a “buy” rating and a $36.00 price target on the stock. Wall Street Zen lowered shares of SM Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Truist Financial boosted their target price on shares of SM Energy from $37.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 10th. Roth Capital upgraded SM Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $32.00 in a research report on Monday, June 22nd. Finally, Zacks Research lowered SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.