SM Energy Company (NYSE:SM) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in SM Energy Company (NYSE:SM - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 499,854 shares of the energy company's stock after selling 45,107 shares during the quarter. Envestnet Asset Management Inc. owned about 0.44% of SM Energy worth $14,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in SM Energy by 64.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,730 shares of the energy company's stock worth $183,000 after acquiring an additional 1,854 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of SM Energy by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 21,258 shares of the energy company's stock worth $637,000 after purchasing an additional 518 shares in the last quarter. Range Financial Group LLC grew its stake in shares of SM Energy by 16.9% during the first quarter. Range Financial Group LLC now owns 25,119 shares of the energy company's stock worth $752,000 after purchasing an additional 3,624 shares in the last quarter. Intrust Bank NA acquired a new position in shares of SM Energy during the fourth quarter worth $396,000. Finally, Harbor Capital Advisors Inc. grew its stake 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 worth $46,000 after purchasing an additional 679 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen upgraded shares of SM Energy to a "strong-buy" rating in a research report on Monday, July 7th. KeyCorp reduced their price objective on shares of SM Energy from $60.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company reduced their price objective on shares of SM Energy from $33.00 to $29.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. Mizuho reduced their price objective on shares of SM Energy from $46.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Stephens reduced their price objective on shares of SM Energy from $62.00 to $55.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, SM Energy currently has an average rating of "Moderate Buy" and a consensus price target of $42.08.

SM Energy Trading Up 0.5%

Shares of SM traded up $0.14 during mid-day trading on Monday, hitting $26.03. The company had a trading volume of 561,518 shares, compared to its average volume of 1,984,910. The business's 50-day simple moving average is $25.57 and its 200-day simple moving average is $29.58. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.62. SM Energy Company has a 1-year low of $19.67 and a 1-year high of $47.69. The stock has a market cap of $2.98 billion, a PE ratio of 3.65 and a beta of 2.16.

SM Energy (NYSE:SM - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.16. SM Energy had a net margin of 27.61% and a return on equity of 19.90%. The business had revenue of $844.54 million for the quarter, compared to the consensus estimate of $814.62 million. During the same quarter last year, the firm posted $1.13 EPS. The business's revenue for the quarter was up 50.8% compared to the same quarter last year. Sell-side analysts forecast that SM Energy Company will post 8.1 earnings per share for the current year.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 3.07%. SM Energy's dividend payout ratio is presently 11.20%.

SM Energy 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.