Saxon Interests Inc. Makes New Investment in SM Energy Company $SM

Saxon Interests Inc. purchased a new stake in shares of SM Energy Company (NYSE:SM) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,166 shares of the energy company’s stock, valued at approximately $1,065,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of SM Energy by 27.7% in the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock valued at $2,753,000 after acquiring an additional 19,965 shares during the period. AQR Capital Management LLC increased its holdings in SM Energy by 43.9% during the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock worth $4,370,000 after acquiring an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SM Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock worth $2,040,000 after purchasing an additional 2,969 shares in the last quarter. NewEdge Advisors LLC lifted its stake in SM Energy by 44.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after purchasing an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association bought a new position in SM Energy in the 1st quarter valued at $222,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SM. National Bank Financial set a $30.00 price target on shares of SM Energy in a research report on Tuesday, March 17th. Zacks Research lowered SM Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Siebert Williams Shank upgraded SM Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from $30.00 to $41.00 in a research note on Thursday, May 14th. JPMorgan Chase & Co. upgraded SM Energy from a “neutral” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Friday, March 20th. Finally, Raymond James Financial raised SM Energy from an “underperform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Buying and Selling at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the transaction, the director directly owned 65,964 shares of the company’s stock, valued at approximately $2,241,456.72. This trade represents a 27.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.45% of the company’s stock.

SM Energy Stock Performance

NYSE SM opened at $28.01 on Wednesday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $35.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $6.71 billion, a P/E ratio of 11.77 and a beta of 0.73. The company has a fifty day moving average of $30.15 and a 200-day moving average of $25.81.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The firm’s revenue was up 75.0% on a year-over-year basis. As a group, equities research analysts predict that SM Energy Company will post 7.3 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.1%. SM Energy’s dividend payout ratio is 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.