Virginia Retirement Systems ET AL Buys Shares of 42,100 SM Energy Co. (SM)
Virginia Retirement Systems ET AL bought a new stake in shares of SM Energy Co. (NYSE:SM) during the second quarter, Holdings Channel reports. The fund bought 42,100 shares of the energy company’s stock, valued at approximately $1,137,000. Virginia Retirement Systems ET AL owned approximately 0.06% of SM Energy at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in SM. UBS Asset Management Americas Inc. boosted its position in SM Energy by 208.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,236,903 shares of the energy company’s stock valued at $23,180,000 after buying an additional 836,534 shares in the last quarter. HBK Investments L P boosted its position in SM Energy by 560.3% in the first quarter. HBK Investments L P now owns 876,907 shares of the energy company’s stock valued at $16,433,000 after buying an additional 744,107 shares in the last quarter. Norges Bank purchased a new position in SM Energy during the fourth quarter valued at $12,696,000. Frontier Capital Management Co. LLC purchased a new position in SM Energy during the second quarter valued at $14,044,000. Finally, Prudential Financial Inc. boosted its position in SM Energy by 358.4% in the first quarter. Prudential Financial Inc. now owns 660,030 shares of the energy company’s stock valued at $12,369,000 after buying an additional 516,040 shares in the last quarter. 82.89% of the stock is owned by institutional investors and hedge funds.
Shares of SM Energy Co. (NYSE:SM) opened at 38.58 on Friday. The stock’s 50 day moving average price is $36.13 and its 200 day moving average price is $29.06. The company’s market capitalization is $2.64 billion. SM Energy Co. has a 12-month low of $6.99 and a 12-month high of $42.23.
SM Energy (NYSE:SM) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.27. SM Energy had a negative return on equity of 9.92% and a negative net margin of 73.55%. The company earned $341.80 million during the quarter, compared to analyst estimates of $328.18 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. SM Energy’s revenue was down 33.8% compared to the same quarter last year. On average, equities research analysts forecast that SM Energy Co. will post ($2.38) earnings per share for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be issued a $0.05 dividend. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, October 19th. SM Energy’s payout ratio is currently -0.80%.
Several equities analysts recently weighed in on SM shares. Citigroup Inc. raised shares of SM Energy to a “neutral” rating and raised their target price for the company from $16.00 to $36.00 in a research note on Monday, August 22nd. Simmons raised shares of SM Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $38.00 to $50.00 in a research note on Monday, August 15th. Zacks Investment Research downgraded SM Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $24.00 price target on shares of SM Energy in a report on Wednesday, July 6th. Finally, Williams Capital started coverage on SM Energy in a report on Monday, August 29th. They set a “buy” rating and a $57.00 price target for the company. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the stock. SM Energy has a consensus rating of “Hold” and an average target price of $32.07.
SM Energy Company Profile
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States.
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