BROOKFIELD Corp ON Acquires New Shares in SM Energy Company $SM

BROOKFIELD Corp ON acquired a new position in SM Energy Company (NYSE:SM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 32,016 shares of the energy company's stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Summit Global Investments raised its holdings in shares of SM Energy by 1.1% in the 4th quarter. Summit Global Investments now owns 46,417 shares of the energy company's stock valued at $868,000 after purchasing an additional 489 shares in the last quarter. State of Wyoming lifted its position in shares of SM Energy by 22.2% in the 4th quarter. State of Wyoming now owns 2,748 shares of the energy company's stock worth $51,000 after purchasing an additional 499 shares during the period. Global Retirement Partners LLC boosted its stake in shares of SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock valued at $26,000 after purchasing an additional 535 shares in the last quarter. First Horizon Corp boosted its stake in shares of SM Energy by 57.4% during the fourth quarter. First Horizon Corp now owns 1,860 shares of the energy company's stock valued at $35,000 after purchasing an additional 678 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in SM Energy by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 22,211 shares of the energy company's stock valued at $415,000 after buying an additional 687 shares during the period. 94.56% of the stock is currently owned by institutional investors.

Insider Transactions at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the company's stock in a transaction dated 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 directly owned 65,964 shares of the company's stock, valued at $2,241,456.72. This represents a 27.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.45% of the stock is owned by corporate insiders.

SM Energy Price Performance

Shares of SM opened at $33.19 on Monday. The company has a 50 day moving average of $30.23 and a two-hundred day moving average of $26.90. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.98. SM Energy Company has a twelve month low of $17.45 and a twelve month high of $35.88. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 13.94 and a beta of 0.73.

SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.42. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The business's quarterly revenue was up 75.0% on a year-over-year basis. As a group, analysts predict that SM Energy Company will post 6.95 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, June 8th. SM Energy's payout ratio is 36.97%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Susquehanna increased their target price on SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. UBS Group assumed coverage on SM Energy in a research note on Tuesday, July 14th. They set a "buy" rating and a $36.00 price objective for the company. Stephens dropped their price objective on SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. BMO Capital Markets lifted their target price on SM Energy from $26.00 to $33.00 and gave the company a "market perform" rating in a research note on Thursday, April 2nd. Finally, Zacks Research downgraded shares of SM Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.53.

SM Energy Company 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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