New York State Teachers Retirement System Sells 2,500 Shares of SM Energy Co. (SM)
New York State Teachers Retirement System lowered its stake in shares of SM Energy Co. (NYSE:SM) by 2.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 120,141 shares of the energy company’s stock after selling 2,500 shares during the period. New York State Teachers Retirement System’s holdings in SM Energy were worth $3,244,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new stake in shares of SM Energy during the second quarter valued at $124,000. Commonwealth Equity Services Inc boosted its position in SM Energy by 4.7% in the first quarter. Commonwealth Equity Services Inc now owns 18,171 shares of the energy company’s stock valued at $341,000 after buying an additional 819 shares during the period. Glenmede Trust Co. NA boosted its position in SM Energy by 90.3% in the first quarter. Glenmede Trust Co. NA now owns 23,510 shares of the energy company’s stock valued at $438,000 after buying an additional 11,157 shares during the period. NN Investment Partners Holdings N.V. bought a new position in SM Energy during the first quarter valued at $457,000. Finally, Virginia Retirement System bought a new position in SM Energy during the first quarter valued at $690,000. Hedge funds and other institutional investors own 82.89% of the company’s stock.
Shares of SM Energy Co. (NYSE:SM) traded down 1.38% during trading on Tuesday, hitting $40.70. The stock had a trading volume of 1,901,409 shares. The stock has a 50-day moving average price of $36.93 and a 200 day moving average price of $30.12. The company’s market cap is $2.79 billion. SM Energy Co. has a 12 month low of $6.99 and a 12 month high of $42.33.
SM Energy (NYSE:SM) last posted its quarterly earnings data on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $328.18 million. During the same quarter in the previous year, the business earned $0.49 EPS. SM Energy’s revenue was down 33.8% compared to the same quarter last year. Equities analysts expect that SM Energy Co. will post ($2.38) EPS for the current fiscal year.
The firm 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 dividend of $0.05 per share. This represents a yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s payout ratio is currently -0.80%.
SM has been the topic of several research analyst reports. Citigroup Inc. upgraded shares of SM Energy to a “neutral” rating and upped their price objective for the stock from $16.00 to $36.00 in a research report on Monday, August 22nd. Simmons upgraded shares of SM Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $50.00 in a research report on Monday, August 15th. Zacks Investment Research cut shares of SM Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Cantor Fitzgerald restated a “hold” rating and issued a $24.00 price objective on shares of SM Energy in a research report on Wednesday, July 6th. Finally, Williams Capital initiated coverage on shares of SM Energy in a research report on Monday, August 29th. They issued a “buy” rating and a $57.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.52.
In related news, SVP Kenneth J. Knott sold 661 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $40.00, for a total transaction of $26,440.00. Following the completion of the transaction, the senior vice president now owns 43,417 shares in the company, valued at approximately $1,736,680. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
About SM Energy
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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