328,983 Shares in SM Energy Company $SM Purchased by Corigliano Investment Advisers LLC

Key Points

• Corigliano Investment Advisers LLC acquired 328,983 shares of SM Energy Company valued at approximately $9.85 million, making it 4.4% of their total holdings.
• The consensus rating for SM Energy is currently a "Hold" with an average target price of $42.50, despite a mix of ratings from various analysts.
• SM Energy recently reported a quarterly earnings per share of $1.50, exceeding estimates, and announced a quarterly dividend of $0.20 per share.

Corigliano Investment Advisers LLC bought a new position in shares of SM Energy Company (NYSE:SM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 328,983 shares of the energy company's stock, valued at approximately $9,853,000. SM Energy accounts for 4.4% of Corigliano Investment Advisers LLC's portfolio, making the stock its 9th largest holding. Corigliano Investment Advisers LLC owned 0.29% of SM Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SM. Northwestern Mutual Wealth Management Co. raised its position in shares of SM Energy by 69.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company's stock valued at $30,000 after buying an additional 417 shares during the last quarter. Parallel Advisors LLC raised 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 valued at $34,000 after buying an additional 747 shares during the last quarter. Brooklyn Investment Group raised its position in shares of SM Energy by 1,097.9% during the first quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company's stock valued at $34,000 after buying an additional 1,043 shares during the last quarter. Byrne Asset Management LLC raised 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 valued at $44,000 after buying an additional 933 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised 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 valued at $46,000 after buying an additional 679 shares during the last quarter. Institutional investors own 94.56% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Susquehanna lifted 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. 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 research note on Monday, June 16th. Mizuho increased 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 note on Tuesday, June 24th. Finally, TD Cowen raised shares of SM Energy to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $42.50.

SM Energy Trading Down 4.8%

Shares of SM traded down $1.35 during trading hours on Friday, reaching $26.87. 1,801,731 shares of the company traded hands, compared to its average volume of 1,644,487. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 3.79 and a beta of 2.46. SM Energy Company has a 12-month low of $19.67 and a 12-month high of $46.42. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average price is $27.03 and its 200 day moving average price is $26.42.

SM Energy (NYSE:SM - Get Free Report) last issued its earnings results on Thursday, July 31st. The energy company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.27. The firm had revenue of $792.94 million during the quarter, compared to analyst estimates of $792.58 million. SM Energy had a net margin of 25.94% and a return on equity of 18.06%. The business's revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 earnings per share. Sell-side analysts forecast that SM Energy Company will post 8.1 earnings per share for the current year.

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 18th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, July 18th. SM Energy's payout ratio is currently 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.