95,806 Shares in SM Energy Company $SM Acquired by Expect Equity LLC

Key Points

• Expect Equity LLC acquired 95,806 shares of SM Energy in the second quarter, valued at approximately $2.5 million and representing 1.6% of its portfolio. Institutional investors collectively own 94.56% of the company.
• SM Energy reported strong quarterly results, with EPS of $2.19 exceeding estimates of $1.96 and revenue rising 215.3% year over year to $2.50 billion. The company also declared a quarterly dividend of $0.22 per share, equivalent to a 2.5% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $37.93, although insider James Barker Lebeck sold 17,500 shares. SM Energy shares opened at $35.71, down 2.1%.

Expect Equity LLC bought a new stake in SM Energy Company (NYSE:SM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 95,806 shares of the energy company's stock, valued at approximately $2,501,000. SM Energy comprises about 1.6% of Expect Equity LLC's investment portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of SM Energy by 27.7% during the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company's stock worth $2,753,000 after buying an additional 19,965 shares during the period. AQR Capital Management LLC raised its holdings in shares of SM Energy by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company's stock valued at $4,370,000 after buying an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 valued at $2,040,000 after buying an additional 2,969 shares during the period. NewEdge Advisors LLC lifted its stake in SM Energy by 44.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company's stock worth $97,000 after acquiring an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in SM Energy during the 1st quarter worth about $222,000. Hedge funds and other institutional investors own 94.56% of the company's stock.

Insider Buying and Selling at SM Energy

In related 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 sale, the executive vice president directly owned 14,705 shares in the company, valued at approximately $544,379.10. This represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.45% of the company's stock.

SM Energy Stock Down 2.1%

Shares of NYSE SM opened at $35.71 on Wednesday. The stock has a market cap of $8.49 billion, a P/E ratio of 7.03 and a beta of 0.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $38.25. The business's fifty day simple moving average is $30.49 and its 200-day simple moving average is $29.10.

SM Energy (NYSE:SM - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the previous year, the firm posted $1.50 EPS. SM Energy's revenue for the quarter was up 215.3% on a year-over-year basis. As a group, equities analysts predict that SM Energy Company will post 7.36 EPS for the current fiscal year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.5%. SM Energy's payout ratio is currently 17.32%.

Analyst Ratings Changes

A number of brokerages recently commented on SM. Wells Fargo & Company upgraded SM Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $32.00 to $47.00 in a report on Thursday, August 13th. Roth Capital raised shares of 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 shares of SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. Truist Financial raised their price objective on shares of SM Energy from $37.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Raymond James Financial dropped their price objective on shares of SM Energy from $55.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, July 21st. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.93.

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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