28,300 Shares in SM Energy Co. (SM) Acquired by Cypress Capital Management LLC WY
Cypress Capital Management LLC WY acquired a new stake in SM Energy Co. (NYSE:SM) during the second quarter, Holdings Channel reports. The firm acquired 28,300 shares of the energy company’s stock, valued at approximately $764,000. SM Energy comprises approximately 1.0% of Cypress Capital Management LLC WY’s holdings, making the stock its 23rd largest position.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA raised 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 last quarter. Commonwealth Equity Services Inc raised 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 last quarter. TIAA CREF Investment Management LLC raised its position in SM Energy by 56.3% in the first quarter. TIAA CREF Investment Management LLC now owns 304,932 shares of the energy company’s stock valued at $5,714,000 after buying an additional 109,812 shares during the last quarter. Teachers Advisors Inc. raised its position in SM Energy by 50.6% in the first quarter. Teachers Advisors Inc. now owns 127,246 shares of the energy company’s stock valued at $2,385,000 after buying an additional 42,748 shares during the last quarter. Finally, Prudential Financial Inc. raised 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 during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.
Shares of SM Energy Co. (NYSE:SM) traded down 0.46% during midday trading on Monday, hitting $38.72. 1,847,265 shares of the company were exchanged. The firm’s market cap is $2.65 billion. SM Energy Co. has a one year low of $6.99 and a one year high of $42.33. The company’s 50 day moving average price is $37.27 and its 200 day moving average price is $30.81.
SM Energy (NYSE:SM) last issued its earnings results on Tuesday, August 2nd. The energy company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.27. The business earned $341.80 million during the quarter, compared to analyst estimates of $328.18 million. SM Energy had a negative return on equity of 9.92% and a negative net margin of 73.55%. SM Energy’s revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Equities analysts expect that SM Energy Co. will post ($2.38) EPS for the current year.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be paid a $0.05 dividend. The ex-dividend date is Wednesday, October 19th. This represents a dividend yield of 0.29%. SM Energy’s payout ratio is -0.80%.
SM has been the topic of several research reports. Cantor Fitzgerald restated a “hold” rating and issued a $24.00 price target on shares of SM Energy in a report on Wednesday, July 6th. Zacks Investment Research upgraded shares of SM Energy from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, July 12th. Barclays PLC raised their price target on shares of SM Energy from $32.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. KLR Group upgraded shares of SM Energy from an “accumulate” rating to a “buy” rating and raised their price target for the company from $37.00 to $43.00 in a report on Tuesday, August 9th. Finally, KeyCorp upgraded shares of SM Energy from a “sector weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. SM Energy presently has a consensus rating of “Hold” and an average target price of $33.52.
In related news, SVP Kenneth J. Knott sold 661 shares of the company’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $40.00, for a total value of $26,440.00. Following the completion of the transaction, the senior vice president now directly owns 43,417 shares in the company, valued at $1,736,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding SM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SM Energy Co. (NYSE:SM).
Receive News & Ratings for SM Energy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SM Energy Co. and related companies with MarketBeat.com's FREE daily email newsletter.