39,280,818 Shares in SM Energy Company $SM Purchased by BlackRock Inc.

BlackRock Inc. bought a new stake in shares of SM Energy Company (NYSE:SM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,280,818 shares of the energy company's stock, valued at approximately $1,025,229,000. BlackRock Inc. owned about 16.38% of SM Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SM. NBC Securities Inc. boosted its position in SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company's stock worth $25,000 after acquiring an additional 830 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in SM Energy by 10,461.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company's stock worth $26,000 after purchasing an additional 1,360 shares in the last quarter. Torren Management LLC boosted its holdings in shares of SM Energy by 4,561.1% during the 1st quarter. Torren Management LLC now owns 839 shares of the energy company's stock worth $26,000 after purchasing an additional 821 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of SM Energy by 62.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock worth $26,000 after purchasing an additional 535 shares during the last quarter. Finally, Center for Financial Planning Inc. purchased a new stake in shares of SM Energy in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 94.56% of the company's stock.

SM Energy Stock Down 0.8%

SM Energy stock opened at $37.34 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $8.88 billion, a P/E ratio of 7.35 and a beta of 0.73. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $38.25. The stock has a 50-day simple moving average of $30.18 and a 200-day simple moving average of $28.80.

SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The company's revenue for the quarter was up 215.3% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. Equities research analysts expect that SM Energy Company will post 7.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SM. Siebert Williams Shank upgraded SM Energy from a "hold" rating to a "buy" rating and upped their target price for the company from $30.00 to $41.00 in a report on Thursday, May 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of SM Energy in a report on Monday. Wall Street Zen upgraded shares of SM Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Truist Financial lifted their target price on shares of SM Energy from $37.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Stephens decreased their target price on shares of SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, SM Energy presently has a consensus rating of "Moderate Buy" and an average target price of $37.93.

About SM Energy

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.

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