SM Energy Company (NYSE:SM) Position Increased by State Treasurer State of Michigan
State Treasurer State of Michigan raised its position in shares of SM Energy Company (NYSE:SM) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,400 shares of the energy company’s stock after buying an additional 600 shares during the period. State Treasurer State of Michigan’s holdings in SM Energy were worth $668,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of SM Energy by 16.2% in the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock worth $210,889,000 after buying an additional 1,226,564 shares during the last quarter. Causeway Capital Management LLC raised its position in shares of SM Energy by 230.1% in the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock worth $189,801,000 after buying an additional 4,816,230 shares during the last quarter. State Street Corp raised its position in shares of SM Energy by 15.7% in the first quarter. State Street Corp now owns 4,415,234 shares of the energy company’s stock worth $106,054,000 after buying an additional 600,265 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of SM Energy by 33.1% in the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock worth $95,926,000 after buying an additional 994,186 shares during the last quarter. Finally, Reservoir Operations L.P. acquired a new position in shares of SM Energy during the first quarter worth about $80,383,000. 97.34% of the stock is currently owned by institutional investors.
Shares of SM Energy Company (NYSE:SM) traded up 0.14% during midday trading on Thursday, reaching $14.73. The company’s stock had a trading volume of 2,009,479 shares. The stock has a 50 day moving average price of $16.31 and a 200-day moving average price of $21.40. SM Energy Company has a 52-week low of $13.76 and a 52-week high of $43.09. The company’s market capitalization is $1.64 billion.
SM Energy (NYSE:SM) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The firm had revenue of $284.94 million during the quarter, compared to the consensus estimate of $299.12 million. During the same quarter in the previous year, the company posted ($0.44) EPS. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. Equities research analysts expect that SM Energy Company will post ($1.05) EPS for the current year.
SM has been the topic of a number of recent analyst reports. Williams Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of SM Energy in a research report on Monday, April 17th. BMO Capital Markets set a $20.00 target price on SM Energy and gave the company a “hold” rating in a research report on Saturday, August 5th. Seaport Global Securities lowered SM Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $31.00 to $16.00 in a research report on Wednesday, June 21st. Scotiabank lowered SM Energy from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research report on Tuesday, May 16th. Finally, BidaskClub lowered SM Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. SM Energy presently has a consensus rating of “Hold” and a consensus target price of $34.53.
In other SM Energy news, CEO Javan D. Ottoson acquired 2,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was purchased at an average price of $16.44 per share, for a total transaction of $32,880.00. Following the transaction, the chief executive officer now owns 143,302 shares in the company, valued at approximately $2,355,884.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Herbert S. Vogel acquired 3,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was acquired at an average price of $16.60 per share, with a total value of $49,800.00. Following the transaction, the executive vice president now owns 32,637 shares in the company, valued at approximately $541,774.20. The disclosure for this purchase can be found here. Insiders own 0.89% 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 in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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