SM Energy Company $SM Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in SM Energy Company (NYSE:SM) by 85.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 98,026 shares of the energy company’s stock after buying an additional 45,218 shares during the period. The Manufacturers Life Insurance Company’s holdings in SM Energy were worth $3,056,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of SM Energy by 79.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock worth $311,678,000 after buying an additional 4,426,751 shares during the last quarter. Millennium Management LLC lifted its position in SM Energy by 205.1% during the 4th quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock worth $53,028,000 after acquiring an additional 1,906,255 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of SM Energy by 268.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,271,757 shares of the energy company’s stock valued at $42,482,000 after purchasing an additional 1,654,891 shares during the last quarter. Woodline Partners LP increased its holdings in shares of SM Energy by 198.9% in the third quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company’s stock valued at $60,665,000 after purchasing an additional 1,616,822 shares during the period. Finally, Sagefield Capital LP purchased a new stake in shares of SM Energy during the fourth quarter worth approximately $20,275,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

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 stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the completion of the transaction, the director directly owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This trade represents a 27.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SM has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Roth Capital raised shares of SM Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $32.00 in a report on Monday, June 22nd. Truist Financial dropped their price target on shares of SM Energy from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. UBS Group assumed 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 for the company. Finally, Wells Fargo & Company lifted their price objective on SM Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.53.

SM Energy Stock Up 0.7%

Shares of NYSE SM opened at $28.89 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy Company has a 52 week low of $17.45 and a 52 week high of $35.88. The firm has a 50-day moving average price of $29.79 and a 200 day moving average price of $27.71. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 5.69 and a beta of 0.73.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping 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 business posted $1.50 earnings per share. The firm’s revenue for the quarter was up 215.3% compared to the same quarter last year. Equities research analysts anticipate that SM Energy Company will post 6.95 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.0%. SM Energy’s dividend payout ratio is currently 36.97%.

SM Energy 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.