Corient Private Wealth LP Makes New Investment in SM Energy Company $SM

Key Points

• Corient Private Wealth LP acquired 144,150 shares of SM Energy worth approximately $3.76 million, while institutional investors collectively owned 94.56% of the company.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $37.93. Recent actions included Wells Fargo and Roth Capital upgrades, although Stephens lowered its target.
• SM Energy reported strong quarterly results, earning $2.19 per share on $2.50 billion in revenue, with revenue up 215.3% year over year. The company also declared a quarterly dividend of $0.22 per share, representing a 2.3% yield.

Corient Private Wealth LP bought a new stake in shares of SM Energy Company (NYSE:SM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 144,150 shares of the energy company's stock, valued at approximately $3,762,000. Corient Private Wealth LP owned 0.06% of SM Energy at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 371 shares during the period. Quad Cities Investment Group LLC grew its position in SM Energy by 2.8% in the 2nd quarter. Quad Cities Investment Group LLC now owns 13,777 shares of the energy company's stock valued at $360,000 after acquiring an additional 375 shares during the last quarter. Summit Global Investments increased its stake in SM Energy by 1.1% in the fourth quarter. Summit Global Investments now owns 46,417 shares of the energy company's stock worth $868,000 after purchasing an additional 489 shares during the period. State of Wyoming increased its stake in SM Energy by 22.2% in the fourth quarter. State of Wyoming now owns 2,748 shares of the energy company's stock worth $51,000 after purchasing an additional 499 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock worth $26,000 after purchasing an additional 535 shares during the last quarter. Institutional investors own 94.56% of the company's stock.

Insider Activity

In other news, EVP James Barker Lebeck sold 17,500 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the transaction, the executive vice president directly owned 14,705 shares in the company, valued at approximately $544,379.10. This trade represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.45% of the company's stock.

Analyst Ratings Changes

SM has been the topic of a number of research analyst reports. Stephens cut their price target on shares of SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Wells Fargo & Company upgraded shares of SM Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $32.00 to $47.00 in a report on Thursday, August 13th. Susquehanna boosted their price objective on shares of SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. UBS Group initiated coverage on shares of SM Energy in a research note on Tuesday, July 14th. They issued a "buy" rating and a $36.00 target price on the stock. Finally, Roth Capital raised shares of SM Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $30.00 to $32.00 in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.93.

SM Energy Stock Performance

Shares of SM Energy stock opened at $38.00 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock's fifty day moving average price is $31.43 and its 200-day moving average price is $29.66. The firm has a market cap of $9.04 billion, a P/E ratio of 7.48 and a beta of 0.73. SM Energy Company has a 12 month low of $17.45 and a 12 month high of $38.25.

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm's revenue for the quarter was up 215.3% compared to the same quarter last year. On average, equities research analysts expect that SM Energy Company will post 7.45 earnings per share for the current fiscal year.

SM Energy Announces Dividend

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 given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, September 4th. SM Energy's dividend payout ratio is presently 17.32%.

SM Energy Company Profile

SM Energy Company NYSE: SM is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy's operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company's core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.

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