Canada Pension Plan Investment Board Makes New Investment in SM Energy Company $SM

Key Points

• Canada Pension Plan Investment Board acquired 14.5 million SM Energy shares valued at approximately $378.3 million, giving it a 6.09% stake. Institutional investors collectively own 94.56% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with a $37.93 price target; ratings include one Strong Buy, 10 Buys and five Holds.
• SM Energy exceeded quarterly expectations with $2.19 in earnings per share and $2.50 billion in revenue, while revenue surged 215.3% year over year. The company also declared a quarterly dividend of $0.22 per share, equal to a 2.5% yield.

Canada Pension Plan Investment Board acquired a new stake in SM Energy Company (NYSE:SM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,493,791 shares of the energy company's stock, valued at approximately $378,288,000. Canada Pension Plan Investment Board owned 6.09% of SM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in SM. NBC Securities Inc. boosted its stake in shares of SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company's stock worth $25,000 after buying an additional 830 shares during the period. SBI Securities Co. Ltd. increased its position in SM Energy by 10,461.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company's stock valued at $26,000 after acquiring an additional 1,360 shares during the period. Torren Management LLC increased its position in SM Energy by 4,561.1% in the 1st quarter. Torren Management LLC now owns 839 shares of the energy company's stock valued at $26,000 after acquiring an additional 821 shares during the period. Global Retirement Partners LLC raised its stake in SM Energy by 62.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock valued at $26,000 after acquiring an additional 535 shares during the last quarter. Finally, Kilter Group LLC purchased a new stake in SM Energy during the 2nd quarter valued at approximately $28,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SM. Weiss Ratings restated a "hold (c)" rating on shares of SM Energy in a research note on Monday, August 17th. Wall Street Zen upgraded shares of SM Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Truist Financial raised their target price on shares of SM Energy from $37.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Stephens lowered their target price on shares of SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Finally, Susquehanna boosted their price target on shares of SM Energy from $31.00 to $32.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.93.

Insider Buying and Selling at SM Energy

In other news, EVP James Barker Lebeck sold 17,500 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the transaction, the executive vice president directly owned 14,705 shares of the company's stock, valued at $544,379.10. This represents a 54.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the stock is currently owned by company insiders.

SM Energy Stock Down 2.1%

SM opened at $35.71 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50 day simple moving average of $30.49 and a 200-day simple moving average of $29.10. The stock has a market capitalization of $8.49 billion, a P/E ratio of 7.03 and a beta of 0.73. SM Energy Company has a 12 month low of $17.45 and a 12 month high of $38.25.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. SM Energy's quarterly revenue was up 215.3% on a year-over-year basis. On average, equities analysts anticipate that SM Energy Company will post 7.36 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, September 4th. SM Energy's payout ratio is presently 17.32%.

SM Energy 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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