Canada Pension Plan Investment Board Invests $1.73 Million in SM Energy Company $SM

Key Points

• The Canada Pension Plan Investment Board acquired a new stake in SM Energy Company by purchasing 57,800 shares valued at approximately $1.73 million, representing around 0.05% of the company.
• SM Energy reported a quarterly earnings per share (EPS) of $1.50, exceeding analysts' estimates of $1.23, with a revenue of $792.94 million.
• The company declared a quarterly dividend of $0.20 per share, reflecting an annual yield of 2.8%, and it has a payout ratio of 11.30%.

Canada Pension Plan Investment Board bought a new position in SM Energy Company (NYSE:SM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 57,800 shares of the energy company's stock, valued at approximately $1,731,000. Canada Pension Plan Investment Board owned approximately 0.05% of SM Energy at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its holdings in shares of SM Energy by 12.7% in the first quarter. Crossmark Global Holdings Inc. now owns 8,355 shares of the energy company's stock valued at $250,000 after purchasing an additional 941 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of SM Energy by 2.5% in the first quarter. Janney Montgomery Scott LLC now owns 21,258 shares of the energy company's stock valued at $637,000 after purchasing an additional 518 shares in the last quarter. Range Financial Group LLC lifted its holdings in shares of SM Energy by 16.9% in the first quarter. Range Financial Group LLC now owns 25,119 shares of the energy company's stock valued at $752,000 after purchasing an additional 3,624 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of SM Energy in the first quarter valued at $656,000. Finally, Invesco Ltd. lifted its holdings in shares of SM Energy by 169.4% in the first quarter. Invesco Ltd. now owns 1,873,860 shares of the energy company's stock valued at $56,122,000 after purchasing an additional 1,178,397 shares in the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Stock Down 4.8%

NYSE SM traded down $1.35 during trading on Friday, hitting $26.87. 1,801,731 shares of the company traded hands, compared to its average volume of 1,644,487. SM Energy Company has a 12 month low of $19.67 and a 12 month high of $46.42. The business has a fifty day simple moving average of $27.03 and a 200 day simple moving average of $26.42. The company has a market capitalization of $3.09 billion, a P/E ratio of 3.79 and a beta of 2.46. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.59.

SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The energy company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.27. SM Energy had a return on equity of 18.06% and a net margin of 25.94%.The business had revenue of $792.94 million for the quarter, compared to analyst estimates of $792.58 million. During the same quarter in the prior year, the firm posted $1.85 EPS. The firm's revenue for the quarter was up 25.0% on a year-over-year basis. As a group, sell-side analysts predict that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 18th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, July 18th. SM Energy's payout ratio is presently 11.30%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SM shares. Mizuho increased their target price on SM Energy from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 1st. TD Cowen upgraded SM Energy to a "strong-buy" rating in a report on Monday, July 7th. Raymond James Financial cut SM Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, June 24th. Wells Fargo & Company reduced their price objective on 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. Finally, Susquehanna lifted their price objective on SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SM Energy presently has a consensus rating of "Hold" and an average target price of $42.50.

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.