Bank of New York Mellon Corp reduced its stake in shares of SM Energy Company (NYSE:SM - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,182,465 shares of the energy company's stock after selling 52,425 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.03% of SM Energy worth $35,415,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in SM. Parallel Advisors LLC lifted its stake in shares of SM Energy by 200.8% in the 1st quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock valued at $34,000 after purchasing an additional 747 shares during the period. Byrne Asset Management LLC raised its holdings in SM Energy by 172.8% in the first quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock worth $44,000 after purchasing an additional 933 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in SM Energy by 80.7% during the first quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock valued at $46,000 after buying an additional 679 shares during the period. Portside Wealth Group LLC bought a new stake in shares of SM Energy during the 1st quarter valued at $164,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of SM Energy by 64.5% during the 4th 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 owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on SM. TD Cowen raised shares of SM Energy to a "strong-buy" rating in a research report on Monday, July 7th. KeyCorp lowered their target price on shares of SM Energy from $60.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Susquehanna dropped their price target on SM Energy from $39.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Stephens reduced their price objective on SM Energy from $62.00 to $55.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Raymond James Financial cut SM Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, SM Energy has an average rating of "Moderate Buy" and an average price target of $42.08.
View Our Latest Analysis on SM Energy
SM Energy Stock Performance
NYSE SM traded down $0.36 during trading hours on Friday, hitting $26.09. The company's stock had a trading volume of 860,166 shares, compared to its average volume of 1,983,781. SM Energy Company has a 12 month low of $19.67 and a 12 month high of $48.49. The company's 50 day simple moving average is $25.51 and its two-hundred day simple moving average is $29.80. 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 company has a market cap of $2.99 billion, a P/E ratio of 3.66 and a beta of 2.16.
SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.16. The firm had revenue of $844.54 million during the quarter, compared to analyst estimates of $814.62 million. SM Energy had a net margin of 27.61% and a return on equity of 19.90%. The business's revenue for the quarter was up 50.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 earnings per share. As a group, sell-side analysts expect that SM Energy Company will post 8.1 EPS for the current fiscal year.
SM Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 3.07%. SM Energy's dividend payout ratio (DPR) is 11.20%.
About SM Energy
(
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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