SIR Capital Management L.P. Makes New Investment in SM Energy Company $SM

SIR Capital Management L.P. purchased a new position in shares of SM Energy Company (NYSE:SM) during the second quarter, Holdings Channel reports. The institutional investor purchased 182,900 shares of the energy company’s stock, valued at approximately $4,774,000.

Several other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of SM Energy by 112.1% in the 1st quarter. Royal Bank of Canada now owns 94,115 shares of the energy company’s stock valued at $2,935,000 after purchasing an additional 49,740 shares in the last quarter. GSA Capital Partners LLP purchased a new position in SM Energy during the second quarter valued at approximately $2,243,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in SM Energy by 96.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 114,609 shares of the energy company’s stock worth $2,143,000 after buying an additional 56,160 shares in the last quarter. Denali Advisors LLC lifted its holdings in SM Energy by 22.2% during the fourth quarter. Denali Advisors LLC now owns 300,000 shares of the energy company’s stock worth $5,610,000 after buying an additional 54,428 shares during the period. Finally, UBS Group AG boosted its position in SM Energy by 23.0% during the 4th quarter. UBS Group AG now owns 666,070 shares of the energy company’s stock valued at $12,456,000 after acquiring an additional 124,448 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Stock Performance

SM opened at $36.48 on Tuesday. The firm has a 50 day moving average of $30.34 and a two-hundred day moving average of $28.99. The firm has a market capitalization of $8.68 billion, a PE ratio of 7.18 and a beta of 0.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $38.25.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The company 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 earnings per share. The firm’s revenue was up 215.3% on a year-over-year basis. On average, analysts anticipate that SM Energy Company will post 7.36 EPS for the current year.

SM Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SM shares. Susquehanna upped their price objective on SM Energy from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. UBS Group began coverage on shares of SM Energy in a research report on Tuesday, July 14th. They issued a “buy” rating and a $36.00 price objective on the stock. Wall Street Zen upgraded shares of SM Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research downgraded SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Siebert Williams Shank upgraded SM Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from $30.00 to $41.00 in a report on Thursday, May 14th. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.93.

Insider Buying and Selling

In other news, EVP James Barker Lebeck sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $37.02, for a total value of $647,850.00. Following the completion of the sale, the executive vice president directly owned 14,705 shares in the company, valued at $544,379.10. The trade was a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.45% of the company’s stock.

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.