Corient Private Wealth LP Boosts Stake in SM Energy Company $SM

Key Points

• Corient Private Wealth increased its SM Energy stake by 64.7% in the second quarter, reaching 175,161 shares valued at approximately $4.6 million. Institutional investors collectively own 94.56% of the company.
• SM Energy reported quarterly EPS of $2.19, beating estimates of $1.96, while revenue rose 215.3% year over year to $2.50 billion. Analysts expect full-year EPS of $7.48.
• The company declared a quarterly dividend of $0.22 per share, equivalent to an annualized yield of about 2.4%. Shares opened at $37.03, while analysts’ consensus rating was “Moderate Buy” with a $39.38 target price.

Corient Private Wealth LP grew its holdings in shares of SM Energy Company (NYSE:SM - Free Report) by 64.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 175,161 shares of the energy company's stock after buying an additional 68,816 shares during the quarter. Corient Private Wealth LP owned 0.07% of SM Energy worth $4,572,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in SM Energy by 3.8% during the 2nd quarter. GAMMA Investing LLC now owns 10,108 shares of the energy company's stock valued at $264,000 after purchasing an additional 371 shares during the period. Quad Cities Investment Group LLC increased its holdings in shares of SM Energy by 2.8% during the second quarter. Quad Cities Investment Group LLC now owns 13,777 shares of the energy company's stock valued at $360,000 after purchasing an additional 375 shares during the period. ProShare Advisors LLC raised its stake in shares of SM Energy by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 22,211 shares of the energy company's stock valued at $415,000 after purchasing an additional 687 shares in the last quarter. Torren Management LLC raised its stake in shares of SM Energy by 4,561.1% during the first quarter. Torren Management LLC now owns 839 shares of the energy company's stock valued at $26,000 after purchasing an additional 821 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in SM Energy by 332.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,129 shares of the energy company's stock worth $35,000 after purchasing an additional 868 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors.

SM Energy Stock Performance

Shares of SM opened at $37.03 on Friday. The company has a market capitalization of $8.81 billion, a PE ratio of 7.29 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The company's 50 day moving average price is $34.28 and its 200 day moving average price is $31.03. SM Energy Company has a 52 week low of $17.45 and a 52 week high of $41.56.

SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the previous year, the company posted $1.50 EPS. SM Energy's revenue was up 215.3% on a year-over-year basis. Research analysts expect that SM Energy Company will post 7.48 EPS for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. SM Energy's dividend payout ratio is 17.32%.

Insiders Place Their Bets

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $37.02, for a total value of $647,850.00. Following the completion of the sale, the executive vice president owned 14,705 shares of the company's stock, valued at $544,379.10. The trade was a 54.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ashwin Venkatraman sold 3,650 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the sale, the director owned 12,525 shares of the company's stock, valued at approximately $479,457. This trade represents a 22.57% decrease in their position. The SEC filing for this sale provides additional information. 0.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SM shares. Zacks Research lowered SM Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Susquehanna boosted their target price on SM Energy from $31.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. Stifel Nicolaus started coverage on SM Energy in a report on Wednesday, September 9th. They set a "hold" rating and a $42.00 target price for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of SM Energy in a research report on Monday, August 17th. Finally, Wall Street Zen raised SM Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, SM Energy currently has an average rating of "Moderate Buy" and a consensus target price of $39.38.

SM Energy Company Profile

SM Energy Company NYSE: SM is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. Its operations focus on acquiring and developing oil and gas properties and producing hydrocarbons from onshore assets in the United States.

The company's principal operations are concentrated in the Permian Basin of West Texas and the South Texas region. SM Energy has also expanded its U.S. operating portfolio through acquisitions, including assets in Utah's Uinta Basin.

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