Cetera Investment Advisers Has $500,000 Stock Position in SM Energy Company $SM

Key Points

• Cetera Investment Advisers reduced its holdings in SM Energy by 44.0%, selling 13,133 shares and ending with 16,682 shares valued at approximately $500,000.
• SM Energy posted earnings of $1.50 per share, exceeding analysts' expectations, with a revenue increase of 25.0% compared to the previous year.
• The company announced a quarterly dividend of $0.20 per share, translating to an annual yield of 3.1% and a payout ratio of 11.30%.

Cetera Investment Advisers cut its stake in SM Energy Company (NYSE:SM - Free Report) by 44.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,682 shares of the energy company's stock after selling 13,133 shares during the period. Cetera Investment Advisers' holdings in SM Energy were worth $500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SM. Raymond James Financial Inc. acquired a new position in SM Energy in the 4th quarter valued at $22,059,000. Summit Investment Advisors Inc. raised its holdings in shares of SM Energy by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,970 shares of the energy company's stock worth $464,000 after buying an additional 379 shares in the last quarter. Barclays PLC lifted its position in shares of SM Energy by 1.9% during the 4th quarter. Barclays PLC now owns 254,915 shares of the energy company's stock worth $9,880,000 after buying an additional 4,697 shares during the last quarter. Jump Financial LLC lifted its position in shares of SM Energy by 196.5% during the 4th quarter. Jump Financial LLC now owns 18,878 shares of the energy company's stock worth $732,000 after buying an additional 12,511 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of SM Energy during the 4th quarter worth $6,526,000. 94.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SM has been the topic of several research reports. Raymond James Financial lowered shares of SM Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, June 24th. Wells Fargo & Company decreased their price target on shares of SM Energy from $33.00 to $29.00 and set an "equal weight" rating on the stock in a report on Monday, June 16th. Mizuho lifted their price target on shares of SM Energy from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 1st. TD Cowen raised shares of SM Energy to a "strong-buy" rating in a report on Monday, July 7th. Finally, Susquehanna lifted their price target on shares of SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $42.50.

SM Energy Price Performance

SM stock traded up $0.3310 during midday trading on Thursday, reaching $25.8410. 2,023,429 shares of the stock were exchanged, compared to its average volume of 2,025,233. The stock has a market capitalization of $2.97 billion, a PE ratio of 3.65 and a beta of 2.29. SM Energy Company has a 52 week low of $19.67 and a 52 week high of $47.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.69. The company has a fifty day moving average price of $26.69 and a 200 day moving average price of $27.30.

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $792.94 million for the quarter, compared to analyst estimates of $792.58 million. During the same quarter in the previous year, the company posted $1.85 EPS. The business's revenue was up 25.0% on a year-over-year basis. As a group, analysts expect 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 was paid on Monday, August 4th. Shareholders of record on Friday, July 18th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, July 18th. SM Energy's payout ratio is 11.30%.

SM Energy Company 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.