Empyrean Capital Partners LP bought a new stake in shares of SM Energy Company (NYSE:SM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 74,000 shares of the energy company's stock, valued at approximately $2,307,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in SM Energy by 79.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company's stock worth $311,678,000 after purchasing an additional 4,426,751 shares in the last quarter. State Street Corp grew its position in shares of SM Energy by 1.7% during the fourth 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. Millennium Management LLC grew its position in shares of SM Energy by 205.1% during the fourth quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company's stock valued at $53,028,000 after purchasing an additional 1,906,255 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of SM Energy by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 2,721,147 shares of the energy company's stock worth $50,897,000 after purchasing an additional 56,187 shares during the last quarter. Finally, Woodline Partners LP increased its holdings in shares of SM Energy by 198.9% in the third quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company's stock worth $60,665,000 after purchasing an additional 1,616,822 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on SM shares. Stephens dropped their price target on SM Energy from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, July 7th. Wall Street Zen raised SM Energy from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Mizuho decreased their price objective on SM Energy from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Tuesday, July 7th. Roth Capital raised SM Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $30.00 to $32.00 in a report on Monday, June 22nd. Finally, Susquehanna raised their target price on shares of SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a report on Tuesday, July 21st. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.53.
Get Our Latest Stock Report on SM
Insider Activity at SM Energy
In other news, Director Ramiro G. Peru sold 24,553 shares of the business'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 transaction of $834,310.94. Following the transaction, the director owned 65,964 shares of the company's stock, valued at approximately $2,241,456.72. The trade was a 27.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.45% of the company's stock.
SM Energy Stock Down 8.6%
Shares of NYSE:SM opened at $30.33 on Tuesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98. SM Energy Company has a 12 month low of $17.45 and a 12 month high of $35.88. The company has a 50-day moving average price of $30.17 and a 200 day moving average price of $26.99. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 12.74 and a beta of 0.73.
SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, topping 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 company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. The firm's revenue for the quarter was up 75.0% on a year-over-year basis. As a group, equities research analysts predict that SM Energy Company will post 6.95 earnings per share for the current year.
SM Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.9%. SM Energy's payout ratio is 36.97%.
SM Energy Profile
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Free Report)
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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