Allspring Global Investments Holdings LLC Sells 385,131 Shares of SM Energy Company (NYSE:SM)

Allspring Global Investments Holdings LLC lowered its stake in shares of SM Energy Company (NYSE:SM - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 161,825 shares of the energy company's stock after selling 385,131 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.14% of SM Energy worth $4,818,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SM. Charles Schwab Investment Management Inc. grew its position in SM Energy by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,255,841 shares of the energy company's stock valued at $48,676,000 after buying an additional 32,803 shares during the period. Victory Capital Management Inc. boosted its position in SM Energy by 13.8% during the fourth quarter. Victory Capital Management Inc. now owns 116,413 shares of the energy company's stock worth $4,512,000 after purchasing an additional 14,089 shares during the period. Proficio Capital Partners LLC bought a new position in SM Energy during the fourth quarter worth about $256,000. Dana Investment Advisors Inc. boosted its position in SM Energy by 1.7% during the fourth quarter. Dana Investment Advisors Inc. now owns 33,392 shares of the energy company's stock worth $1,294,000 after purchasing an additional 556 shares during the period. Finally, Raymond James Financial Inc. bought a new position in SM Energy during the fourth quarter worth about $22,059,000. Institutional investors own 94.56% of the company's stock.

SM Energy Trading Down 0.8%

Shares of SM Energy stock traded down $0.21 on Monday, hitting $25.72. The stock had a trading volume of 325,374 shares, compared to its average volume of 1,957,458. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.62. SM Energy Company has a one year low of $19.67 and a one year high of $48.49. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 3.61 and a beta of 2.16. The stock's 50-day simple moving average is $24.69 and its two-hundred day simple moving average is $30.35.

SM Energy (NYSE:SM - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.16. SM Energy had a net margin of 27.61% and a return on equity of 19.90%. The firm had revenue of $844.54 million for the quarter, compared to analysts' expectations of $814.62 million. During the same quarter last year, the business earned $1.13 earnings per share. The business's revenue was up 50.8% on a year-over-year basis. As a group, sell-side analysts predict that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, July 18th. SM Energy's dividend payout ratio is 11.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SM. Raymond James Financial lowered shares of SM Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, June 24th. Mizuho cut their target price on shares of SM Energy from $46.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price objective on shares of SM Energy from $54.00 to $41.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Susquehanna reduced their price objective on shares of SM Energy from $39.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Stephens reduced their price objective on shares of SM Energy from $62.00 to $55.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $42.08.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.