Corigliano Investment Advisers LLC Purchases Shares of 328,983 SM Energy Company $SM

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 purchased a new position in shares of SM Energy Company (NYSE:SM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 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 holdings, making the stock its 9th biggest position. Corigliano Investment Advisers LLC owned about 0.29% of SM Energy at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in SM Energy by 69.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company's stock worth $30,000 after buying an additional 417 shares during the period. Parallel Advisors LLC raised its stake in SM Energy by 200.8% during the 1st quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock worth $34,000 after buying an additional 747 shares during the period. Brooklyn Investment Group raised its stake in SM Energy by 1,097.9% during the 1st quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company's stock worth $34,000 after buying an additional 1,043 shares during the period. Byrne Asset Management LLC raised its stake in SM Energy by 172.8% during the 1st quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock worth $44,000 after buying an additional 933 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in SM Energy by 80.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock worth $46,000 after buying an additional 679 shares during the period. 94.56% of the stock is owned by institutional investors and hedge funds.

SM Energy Stock Performance

Shares of SM Energy stock traded down $0.00 during trading hours on Tuesday, reaching $26.71. The company had a trading volume of 553,631 shares, compared to its average volume of 2,223,101. SM Energy Company has a one year low of $19.67 and a one year high of $46.42. The business has a fifty day simple moving average of $27.07 and a 200 day simple moving average of $26.29. 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 cap of $3.07 billion, a PE ratio of 3.77 and a beta of 2.47.

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

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Friday, July 18th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, July 18th. SM Energy's dividend payout ratio (DPR) is 11.30%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Raymond James Financial downgraded SM Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. Susquehanna upped their target price on SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. TD Cowen raised SM Energy to a "strong-buy" rating in a report on Monday, July 7th. Mizuho increased their price objective on SM Energy from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Wells Fargo & Company reduced their price objective on SM Energy from $33.00 to $29.00 and set an "equal weight" rating for the company in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.50.

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.