Allspring Global Investments Holdings LLC decreased its position in shares of SM Energy Company (NYSE:SM - Free Report) by 70.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.14% of SM Energy worth $4,818,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in SM. Parallel Advisors LLC grew its position in SM Energy by 200.8% in the first quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock valued at $34,000 after acquiring an additional 747 shares during the last quarter. Byrne Asset Management LLC grew its holdings in shares of SM Energy by 172.8% during the 1st quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock valued at $44,000 after purchasing an additional 933 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in SM Energy by 80.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock worth $46,000 after purchasing an additional 679 shares in the last quarter. Portside Wealth Group LLC bought a new position in SM Energy in the 1st quarter valued at approximately $164,000. Finally, Tower Research Capital LLC TRC boosted its position in SM Energy by 64.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,730 shares of the energy company's stock valued at $183,000 after buying an additional 1,854 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on SM. JPMorgan Chase & Co. dropped their price objective on shares of SM Energy from $54.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Raymond James Financial lowered shares of SM Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, June 24th. Susquehanna lowered their target price on SM Energy from $39.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their price target on SM Energy from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Monday, June 16th. Finally, KeyCorp cut their price objective on SM Energy from $60.00 to $36.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $42.08.
Read Our Latest Analysis on SM Energy
SM Energy Trading Down 2.2%
NYSE:SM traded down $0.58 during trading hours on Monday, hitting $25.35. The company had a trading volume of 2,141,199 shares, compared to its average volume of 1,964,548. SM Energy Company has a 52 week low of $19.67 and a 52 week high of $48.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a 50-day moving average price of $24.69 and a 200 day moving average price of $30.35. The company has a market capitalization of $2.90 billion, a PE ratio of 3.55 and a beta of 2.16.
SM Energy (NYSE:SM - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.16. SM Energy had a net margin of 27.61% and a return on equity of 19.90%. The business had revenue of $844.54 million during the quarter, compared to the consensus estimate of $814.62 million. During the same quarter last year, the firm earned $1.13 earnings per share. The business's revenue for the quarter was up 50.8% on a year-over-year basis. On average, equities research analysts predict that SM Energy Company will post 8.1 EPS for the current fiscal year.
SM Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.16%. SM Energy's dividend payout ratio (DPR) is currently 11.20%.
SM Energy Company Profile
(
Free Report)
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.
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