426,525 Shares in SM Energy Company $SM Bought by Leeward Investments LLC MA

Key Points

• Leeward Investments LLC MA disclosed a new first-quarter position in SM Energy, buying 426,525 shares worth about $13.3 million. The stake represented roughly 0.18% of the company.
• SM Energy reported better-than-expected quarterly results, with EPS of $1.55 versus the $1.13 consensus and revenue of $1.48 billion, up 75% year over year. Analysts now expect about 7.3 EPS for the current fiscal year.
• The company also paid a quarterly dividend of $0.22 per share, equal to an annualized yield of about 3.2%. Wall Street’s view remains positive overall, with a Moderate Buy consensus and an average target price of $37.00.

Leeward Investments LLC MA acquired a new position in SM Energy Company (NYSE:SM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 426,525 shares of the energy company's stock, valued at approximately $13,299,000. Leeward Investments LLC MA owned approximately 0.18% of SM Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new stake in shares of SM Energy in the 3rd quarter worth about $31,000. NBC Securities Inc. boosted its stake 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 in the last quarter. SBI Securities Co. Ltd. boosted its stake in SM Energy by 10,461.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company's stock worth $26,000 after acquiring an additional 1,360 shares in the last quarter. Global Retirement Partners LLC boosted its stake in SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock worth $26,000 after acquiring an additional 535 shares in the last quarter. Finally, First Horizon Corp grew its holdings in SM Energy by 57.4% in the fourth quarter. First Horizon Corp now owns 1,860 shares of the energy company's stock worth $35,000 after purchasing an additional 678 shares during the period. Hedge funds and other institutional investors own 94.56% of the company's stock.

Insider Transactions at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value 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 represents a 27.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.45% of the company's stock.

SM Energy Stock Performance

Shares of SM stock opened at $27.58 on Wednesday. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 11.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. SM Energy Company has a one year low of $17.45 and a one year high of $35.88. The company's 50-day moving average is $30.45 and its 200 day moving average is $25.32.

SM Energy (NYSE:SM - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.42. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The business's revenue for the quarter was up 75.0% compared to the same quarter last year. Sell-side analysts expect that SM Energy Company will post 7.3 EPS for the current fiscal year.

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 3.2%. SM Energy's dividend payout ratio is 36.97%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SM. Roth Mkm raised shares of SM Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $30.00 to $32.00 in a research note on Monday. Susquehanna upped their price target on SM Energy from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. KeyCorp upped their price target on SM Energy from $29.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Wells Fargo & Company raised their price objective on SM Energy from $29.00 to $32.00 and gave the company an "equal weight" rating in a research report on Monday, May 18th. Finally, Truist Financial lifted their price objective on SM Energy from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, SM Energy presently has an average rating of "Moderate Buy" and an average target price of $37.00.

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.

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