Charles Schwab Investment Management Inc. Has $36.90 Million Holdings 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. trimmed its position in shares of SM Energy Company (NYSE:SM - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,232,104 shares of the energy company's stock after selling 23,737 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.08% of SM Energy worth $36,902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SM. Parallel Advisors LLC boosted its position in shares of SM Energy by 200.8% during the first quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock worth $34,000 after purchasing an additional 747 shares in the last quarter. Byrne Asset Management LLC boosted its position in shares of SM Energy by 172.8% during the first quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock worth $44,000 after purchasing an additional 933 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of SM Energy by 80.7% during the first quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock worth $46,000 after purchasing an additional 679 shares in the last quarter. CWM LLC boosted its position in shares of SM Energy by 34.0% during the first quarter. CWM LLC now owns 3,760 shares of the energy company's stock worth $113,000 after purchasing an additional 955 shares in the last quarter. Finally, Portside Wealth Group LLC bought a new position in shares of SM Energy during the first quarter worth $164,000. 94.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SM shares. TD Cowen raised shares of SM Energy to a "strong-buy" rating in a research report on Monday, July 7th. Susquehanna boosted their price objective 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. Mizuho boosted their price objective on shares of SM Energy from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Raymond James Financial cut shares of SM Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company cut their price objective on shares of SM Energy from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Monday, June 16th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, SM Energy presently has a consensus rating of "Hold" and a consensus price target of $42.50.

SM Energy Stock Performance

SM traded up $1.7950 on Friday, reaching $27.7150. The company had a trading volume of 2,246,633 shares, compared to its average volume of 2,050,518. SM Energy Company has a fifty-two week low of $19.67 and a fifty-two week high of $47.69. The stock has a market cap of $3.19 billion, a P/E ratio of 3.91 and a beta of 2.29. The company's fifty day moving average is $26.68 and its 200 day moving average is $27.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.69 and a current ratio of 0.69.

SM Energy (NYSE:SM - Get Free Report) last announced 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 net margin of 25.94% and a return on equity of 18.06%. 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 business earned $1.85 EPS. SM Energy's quarterly revenue was up 25.0% on a year-over-year basis. As a group, analysts predict that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 18th were paid a $0.20 dividend. The ex-dividend date was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. SM Energy's dividend payout ratio is 11.30%.

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.