Engineers Gate Manager LP Acquires Shares of 57,033 SM Energy Company $SM

Key Points

• Engineers Gate Manager LP acquired 57,033 SM Energy shares worth approximately $1.49 million during the second quarter. Institutional investors collectively own 94.56% of the company.
• SM Energy reported stronger-than-expected quarterly results, with earnings of $2.19 per share and revenue of $2.50 billion, up 215.3% year over year.
• The company declared a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 payout and a 2.3% yield, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $39.38.

Engineers Gate Manager LP bought a new position in shares of SM Energy Company (NYSE:SM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,033 shares of the energy company's stock, valued at approximately $1,489,000.

Several other institutional investors have also recently made changes to their positions in SM. BlackRock Inc. bought a new stake in shares of SM Energy during the second quarter valued at approximately $1,025,229,000. Canada Pension Plan Investment Board bought a new position in SM Energy in the second quarter worth $378,288,000. Dimensional Fund Advisors LP raised its holdings in SM Energy by 79.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company's stock worth $311,678,000 after purchasing an additional 4,426,751 shares in the last quarter. Donald Smith & CO. Inc. purchased a new position in SM Energy during the second quarter valued at $199,602,000. Finally, Webs Creek Capital Management LP purchased a new position in SM Energy during the second quarter valued at $53,257,807. Institutional investors own 94.56% of the company's stock.

SM Energy News Roundup

Here are the key news stories impacting SM Energy this week:

• Positive Sentiment: An analyst upgrade helped drive SM Energy to a new 52-week high, signaling improving Wall Street sentiment. SM Energy Sets New 52-Week High Following Analyst Upgrade
• Positive Sentiment: UBS indicated that SM Energy’s stock price could rise, adding to the positive analyst outlook. SM Energy Stock Price Expected to Rise, UBS Group Analyst Says
• Positive Sentiment: A separate analyst raised the price target to $46 while maintaining a positive rating. Stronger crude prices, higher production expectations, robust cash generation, debt reduction, and progress toward merger synergies further supported investor sentiment. SM Energy gains as analyst target hike and stronger crude prices lift sentiment
• Positive Sentiment: Zacks classified SM Energy as a highly ranked growth stock, which may attract growth-oriented investors. SM Energy is a Top-Ranked Growth Stock
• Neutral Sentiment: The broader energy-sector rally and higher oil prices have been important short-term drivers, leaving SM Energy’s near-term performance dependent on commodity-market conditions. SM Energy Jumps Amid Sector-Wide Rally
• Negative Sentiment: After the sharp advance and new 52-week high, investors may be taking profits, which can pressure the shares even though analyst commentary remains favorable.
• Negative Sentiment: Recent insider activity included three open-market sales and no purchases, a modest cautionary signal for investors assessing valuation after the rally.

SM Energy Trading Down 7.6%

SM Energy stock opened at $38.15 on Thursday. SM Energy Company has a 12 month low of $17.45 and a 12 month high of $41.56. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 7.51 and a beta of 0.75. The business's fifty day simple moving average is $33.93 and its two-hundred day simple moving average is $30.89. 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 (NYSE:SM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.23. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The company's revenue was up 215.3% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. As a group, equities analysts predict that SM Energy Company will post 7.48 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, September 4th. SM Energy's dividend payout ratio (DPR) is currently 17.32%.

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 sale, the executive vice president owned 14,705 shares in the company, valued at $544,379.10. This represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ashwin Venkatraman sold 3,650 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $38.28, for a total transaction of $139,722.00. Following the sale, the director directly owned 12,525 shares of the company's stock, valued at $479,457. This trade represents a 22.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens reduced their target price on shares of SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. Wells Fargo & Company raised shares of SM Energy from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $47.00 in a research report on Thursday, August 13th. Zacks Research lowered shares of SM Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Susquehanna upped their price objective on shares of SM Energy from $31.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Finally, Seaport Research Partners started coverage on shares of SM Energy in a research note on Thursday, September 3rd. They set a "sell" rating and a $35.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, SM Energy currently has a consensus rating of "Moderate Buy" and an average price target of $39.38.

SM Energy 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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