Bryce Point Capital LLC Takes $879,000 Position in SM Energy Company (NYSE:SM)

Key Points

• Bryce Point Capital LLC has acquired a new stake in SM Energy, purchasing 29,120 shares valued at approximately $879,000.
• A majority of institutional investors hold 94.56% of SM Energy's stock, indicating strong backing from large financial entities.
• The company recently announced a quarterly dividend of $0.20 per share with a dividend yield of 2.91%, scheduled for payment on August 4th.

Bryce Point Capital LLC bought a new stake in SM Energy Company (NYSE:SM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,120 shares of the energy company's stock, valued at approximately $879,000.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of 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 raised its stake in shares of SM Energy by 172.8% in the first quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock valued at $44,000 after acquiring an additional 933 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of SM Energy by 80.7% in the first quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock valued at $46,000 after acquiring an additional 679 shares during the last quarter. CWM LLC raised its position in SM Energy by 34.0% in the 1st quarter. CWM LLC now owns 3,760 shares of the energy company's stock worth $113,000 after purchasing an additional 955 shares during the last quarter. Finally, Portside Wealth Group LLC bought a new position in SM Energy in the 1st quarter worth approximately $164,000. Institutional investors own 94.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SM. Mizuho dropped their price objective 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. Wells Fargo & Company dropped their target price on shares of SM Energy from $33.00 to $29.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. TD Cowen upgraded shares of SM Energy to a "strong-buy" rating in a research report on Monday, July 7th. Susquehanna upped their target price on shares of SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial lowered shares of SM Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.33.

SM Energy Price Performance

NYSE:SM traded down $0.39 during trading hours on Thursday, hitting $27.32. 1,398,374 shares of the stock traded hands, compared to its average volume of 2,284,571. 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 1 year low of $19.67 and a 1 year high of $47.69. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 3.85 and a beta of 2.16. The stock has a 50 day moving average price of $26.07 and a 200 day moving average price of $28.95.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.76 earnings per share 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 company had revenue of $844.54 million for the quarter, compared to analysts' expectations of $814.62 million. During the same quarter in the previous year, the business posted $1.13 earnings per share. SM Energy's quarterly revenue was up 50.8% on a year-over-year basis. Sell-side analysts forecast that SM Energy Company will post 8.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, July 18th. SM Energy's payout ratio is presently 11.20%.

SM Energy 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.