Charles Schwab Investment Management Inc. Has $36.90 Million Stake in SM Energy Company $SM

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in SM Energy Company by 1.9% to 1,232,104 shares, valued at approximately $36.90 million.
• SM Energy reported earnings of $1.50 per share for the last quarter, exceeding analysts' expectations of $1.23, while revenue increased by 25.0% year-over-year.
• The company declared a quarterly dividend of $0.20 per share, reflecting a 3.1% dividend yield with a payout ratio of 11.30%.

Charles Schwab Investment Management Inc. lowered its holdings in SM Energy Company (NYSE:SM - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,232,104 shares of the energy company's stock after selling 23,737 shares during the period. Charles Schwab Investment Management Inc. owned about 1.08% of SM Energy worth $36,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its holdings in SM Energy by 51.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 3,207,245 shares of the energy company's stock valued at $96,057,000 after acquiring an additional 1,088,948 shares during the period. New York State Common Retirement Fund bought a new position in SM Energy in the 1st quarter valued at about $25,363,000. First Trust Advisors LP raised its holdings in SM Energy by 40.1% in the 4th quarter. First Trust Advisors LP now owns 2,683,131 shares of the energy company's stock valued at $103,998,000 after acquiring an additional 767,779 shares during the period. Palisade Capital Management LP raised its holdings in SM Energy by 45.5% in the 1st quarter. Palisade Capital Management LP now owns 1,226,895 shares of the energy company's stock valued at $36,746,000 after acquiring an additional 383,616 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in SM Energy by 272.7% in the 1st quarter. Victory Capital Management Inc. now owns 433,834 shares of the energy company's stock valued at $12,993,000 after acquiring an additional 317,421 shares during the period. Institutional investors own 94.56% of the company's stock.

SM Energy Price Performance

SM traded up $0.3310 on Thursday, hitting $25.8410. 2,023,429 shares of the stock were exchanged, compared to its average volume of 2,273,306. SM Energy Company has a 12 month low of $19.67 and a 12 month high of $47.69. The business has a 50-day moving average of $26.72 and a two-hundred day moving average of $27.38. 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 firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 3.65 and a beta of 2.29.

SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The energy company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.27. SM Energy had a net margin of 25.94% and a return on equity of 18.06%. The business had revenue of $792.94 million during the quarter, compared to analysts' expectations of $792.58 million. During the same quarter in the prior year, the business posted $1.85 earnings per share. SM Energy's revenue was up 25.0% compared to the same quarter last year. Sell-side analysts forecast that SM Energy Company will post 8.1 EPS for the current fiscal year.

SM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 18th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 3.1%. SM Energy's dividend payout ratio is currently 11.30%.

Analyst Ratings Changes

SM has been the topic of several research analyst reports. Wells Fargo & Company lowered 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 increased 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 upgraded shares of SM Energy to a "strong-buy" rating in a research note on Monday, July 7th. Susquehanna upped their price target on shares of SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial downgraded shares of SM Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $42.50.

About SM Energy

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.