Readystate Asset Management LP Boosts Stock Position in SM Energy Company $SM

Readystate Asset Management LP increased its position in SM Energy Company (NYSE:SM) by 293.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 222,880 shares of the energy company’s stock after buying an additional 166,208 shares during the quarter. Readystate Asset Management LP’s holdings in SM Energy were worth $5,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Torren Management LLC increased its stake in shares of SM Energy by 4,561.1% in the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock worth $26,000 after purchasing an additional 821 shares in the last quarter. Center for Financial Planning Inc. bought a new stake in shares of SM Energy during the 1st quarter valued at $31,000. Valued Wealth Advisors LLC purchased a new position in shares of SM Energy during the 1st quarter valued at $33,000. Kilter Group LLC purchased a new position in shares of SM Energy during the 2nd quarter valued at $28,000. Finally, Assetmark Inc. bought a new position in SM Energy in the 1st quarter worth $35,000. Institutional investors own 94.56% of the company’s stock.

Insider Activity at SM Energy

In related news, EVP James Barker Lebeck sold 17,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 14,705 shares of the company’s stock, valued at approximately $544,379.10. This trade represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

SM Energy Trading Up 0.2%

Shares of SM stock opened at $36.51 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 7.19 and a beta of 0.75. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $38.94. The stock’s 50-day moving average price is $32.09 and its 200-day moving average price is $30.00.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.23. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The firm’s revenue was up 215.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 earnings per share. Equities research analysts predict that SM Energy Company will post 7.48 EPS for the current fiscal year.

SM Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SM shares. 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 on the stock. Truist Financial lifted their price objective on shares of SM Energy from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wells Fargo & Company raised shares of SM Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $47.00 in a report on Thursday, August 13th. Mizuho upgraded shares of SM Energy to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Roth Capital raised shares of SM Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $32.00 in a research note on Monday, June 22nd. One research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.