SM Energy Company $SM Holdings Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of SM Energy Company (NYSE:SM) by 22.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,819 shares of the energy company’s stock after selling 32,418 shares during the period. State of Alaska Department of Revenue’s holdings in SM Energy were worth $3,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada raised its stake in SM Energy by 112.1% in the 1st quarter. Royal Bank of Canada now owns 94,115 shares of the energy company’s stock worth $2,935,000 after purchasing an additional 49,740 shares in the last quarter. GSA Capital Partners LLP bought a new stake in SM Energy in the 2nd quarter valued at about $2,243,000. Readystate Asset Management LP grew its position in shares of SM Energy by 293.3% during the 2nd quarter. Readystate Asset Management LP now owns 222,880 shares of the energy company’s stock worth $5,817,000 after purchasing an additional 166,208 shares in the last quarter. Leeward Investments LLC MA acquired a new position in shares of SM Energy during the 1st quarter worth approximately $13,299,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of SM Energy during the 1st quarter worth approximately $1,053,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insider Activity at SM Energy

In other news, EVP James Barker Lebeck sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the completion of the sale, the executive vice president owned 14,705 shares of the company’s stock, valued at approximately $544,379.10. This represents a 54.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ashwin Venkatraman sold 3,650 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $38.28, for a total transaction of $139,722.00. Following the sale, the director owned 12,525 shares in the company, valued at $479,457. This represents a 22.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SM. Zacks Research raised shares of SM Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Seaport Research Partners started coverage on SM Energy in a research note on Thursday, September 3rd. They issued a “sell” rating and a $35.00 price target for the company. Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $32.00 in a research report on Monday, June 22nd. Stephens reduced their price target on SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Finally, KeyCorp increased their price target on SM Energy from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.76.

SM Energy Stock Up 5.3%

Shares of NYSE SM opened at $39.51 on Friday. The stock has a market capitalization of $9.40 billion, a P/E ratio of 7.78 and a beta of 0.95. The stock’s fifty day moving average is $36.15 and its 200 day moving average is $32.18. SM Energy Company has a 52 week low of $17.45 and a 52 week high of $41.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the business posted $1.50 earnings per share. SM Energy’s revenue was up 215.3% compared to the same quarter last year. Sell-side analysts forecast that SM Energy Company will post 7.85 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 7th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 4th. SM Energy’s dividend payout ratio (DPR) is currently 17.32%.

SM Energy Company Profile

SM Energy Company is an independent energy company engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. Its operations focus on onshore properties in the United States, with activities concentrated in major producing regions such as the Permian Basin in West Texas and the South Texas Eagle Ford.

The company’s products include crude oil, natural gas, and natural gas liquids, which it sells to energy marketers, midstream companies, and other purchasers.