Dockside LLC Purchases New Stake in SM Energy Company $SM

Key Points

• Dockside LLC purchased 103,036 shares of SM Energy during the second quarter, valued at approximately $2.69 million. Institutional investors collectively own 94.56% of the company.
• Analyst sentiment is favorable, with SM Energy holding a consensus “Moderate Buy” rating and an average price target of $37.93; Wells Fargo recently upgraded the stock to “overweight” with a $47 target.
• SM Energy reported quarterly earnings of $2.19 per share, exceeding estimates, while revenue rose 215.3% year over year to $2.50 billion. The company also pays an annualized dividend of $0.88 per share, yielding about 2.6%.

Dockside LLC purchased a new stake in shares of SM Energy Company (NYSE:SM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 103,036 shares of the energy company's stock, valued at approximately $2,689,000.

Several other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of SM Energy by 79.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company's stock valued at $311,678,000 after acquiring an additional 4,426,751 shares during the period. Millennium Management LLC boosted its position in SM Energy by 205.1% during the 4th quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company's stock worth $53,028,000 after purchasing an additional 1,906,255 shares during the period. Alyeska Investment Group L.P. increased its holdings in SM Energy by 268.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,271,757 shares of the energy company's stock valued at $42,482,000 after purchasing an additional 1,654,891 shares in the last quarter. Woodline Partners LP increased its holdings in SM Energy by 198.9% in the 3rd quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company's stock valued at $60,665,000 after purchasing an additional 1,616,822 shares in the last quarter. Finally, Sagefield Capital LP purchased a new position in SM Energy in the fourth quarter valued at about $20,275,000. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SM has been the topic of a number of recent research reports. Wells Fargo & Company upgraded SM Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $32.00 to $47.00 in a research note on Thursday. Truist Financial lifted their price objective on shares of SM Energy from $37.00 to $43.00 and gave the company a "buy" rating in a research note on Monday. Susquehanna upped their target price on shares of SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of SM Energy from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, UBS Group began coverage on shares of SM Energy in a report on Tuesday, July 14th. They set a "buy" rating and a $36.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SM Energy presently has a consensus rating of "Moderate Buy" and an average target price of $37.93.

SM Energy Stock Up 4.0%

Shares of NYSE:SM opened at $33.70 on Friday. The firm has a market cap of $8.02 billion, a PE ratio of 6.63 and a beta of 0.73. The company has a fifty day simple moving average of $29.72 and a 200 day simple moving average of $28.20. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $35.88.

SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.23. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.02 billion. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The firm's revenue was up 215.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. On average, equities research analysts anticipate that SM Energy Company will post 7.1 EPS for the current fiscal year.

SM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, June 8th. SM Energy's dividend payout ratio (DPR) is 17.32%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 24,553 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the completion of the sale, the director directly owned 65,964 shares of the company's stock, valued at $2,241,456.72. The trade was a 27.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.45% of the company's stock.

SM Energy 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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