New York State Teachers Retirement System Increases Stock Holdings in SM Energy Company $SM

New York State Teachers Retirement System raised its position in SM Energy Company (NYSE:SM) by 55.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,011 shares of the energy company’s stock after acquiring an additional 82,974 shares during the quarter. New York State Teachers Retirement System’s holdings in SM Energy were worth $7,234,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in SM Energy by 1.7% during the 4th quarter. State Street Corp now owns 6,257,360 shares of the energy company’s stock valued at $118,267,000 after purchasing an additional 107,295 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in SM Energy by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,921,769 shares of the energy company’s stock worth $147,876,000 after buying an additional 30,951 shares in the last quarter. Millennium Management LLC boosted its position in SM Energy by 205.1% in the 4th quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock valued at $53,028,000 after buying an additional 1,906,255 shares during the last quarter. Geode Capital Management LLC boosted its position in SM Energy by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,721,147 shares of the energy company’s stock valued at $50,897,000 after buying an additional 56,187 shares during the last quarter. Finally, Woodline Partners LP grew its stake in shares of SM Energy by 198.9% during the third quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company’s stock valued at $60,665,000 after acquiring an additional 1,616,822 shares in the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Raymond James Financial raised SM Energy from an “underperform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Wednesday, May 20th. JPMorgan Chase & Co. raised SM Energy from a “neutral” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Friday, March 20th. Susquehanna raised their price objective on SM Energy from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings raised SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen upgraded SM Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, SM Energy presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Buying and Selling at SM Energy

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $33.98, for a total transaction of $834,310.94. Following the sale, the director directly owned 65,964 shares of the company’s stock, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.45% of the company’s stock.

SM Energy Stock Performance

Shares of SM traded up $0.46 during mid-day trading on Tuesday, hitting $26.81. The stock had a trading volume of 239,744 shares, compared to its average volume of 5,627,279. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $35.88. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.98. The company has a market cap of $6.43 billion, a PE ratio of 11.25 and a beta of 0.73. The company’s fifty day simple moving average is $30.17 and its two-hundred day simple moving average is $25.75.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.42. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company posted $1.76 EPS. The business’s revenue was up 75.0% compared to the same quarter last year. On average, equities analysts expect that SM Energy Company will post 7.3 earnings per share for the current year.

SM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 3.3%. SM Energy’s payout ratio is presently 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.