Fisher Asset Management LLC Buys 47,735 Shares of SM Energy Company $SM

Key Points

• Fisher Asset Management increased its SM Energy stake by 5.3% in the fourth quarter, adding 47,735 shares to bring its total holdings to 944,067 shares worth about $17.7 million.
• Other institutional investors also boosted their positions, and 94.56% of SM Energy’s stock is owned by institutions, highlighting strong institutional interest in the company.
• SM Energy reported better-than-expected quarterly earnings of $1.55 per share on revenue of $1.48 billion, and it also announced a quarterly dividend of $0.22 per share, yielding about 2.9% annually.

Fisher Asset Management LLC raised its holdings in SM Energy Company (NYSE:SM - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 944,067 shares of the energy company's stock after acquiring an additional 47,735 shares during the quarter. Fisher Asset Management LLC owned about 0.82% of SM Energy worth $17,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Global Retirement Partners LLC boosted its stake in SM Energy by 62.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock valued at $26,000 after acquiring an additional 535 shares during the last quarter. First Horizon Corp boosted its stake in SM Energy by 57.4% in the fourth quarter. First Horizon Corp now owns 1,860 shares of the energy company's stock valued at $35,000 after acquiring an additional 678 shares during the last quarter. ProShare Advisors LLC boosted its stake in SM Energy by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 22,211 shares of the energy company's stock valued at $415,000 after acquiring an additional 687 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in SM Energy by 1.0% in the third quarter. Hodges Capital Management Inc. now owns 74,613 shares of the energy company's stock valued at $1,863,000 after acquiring an additional 705 shares during the last quarter. Finally, US Bancorp DE boosted its stake in SM Energy by 1.5% in the third quarter. US Bancorp DE now owns 48,942 shares of the energy company's stock valued at $1,222,000 after acquiring an additional 720 shares during the last quarter. 94.56% of the stock is owned by institutional investors.

Insider Activity at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $33.98, for a total transaction of $834,310.94. Following the sale, the director directly owned 65,964 shares in the company, valued at $2,241,456.72. This trade represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by insiders.

SM Energy Trading Down 3.4%

SM opened at $30.70 on Thursday. The firm's fifty day moving average is $30.23 and its two-hundred day moving average is $23.75. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $7.36 billion, a PE ratio of 12.90 and a beta of 0.73. SM Energy Company has a twelve month low of $17.45 and a twelve month high of $35.88.

SM Energy (NYSE:SM - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.42. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business posted $1.76 earnings per share. The business's revenue for the quarter was up 75.0% compared to the same quarter last year. Equities research analysts anticipate that SM Energy Company will post 7.47 EPS for the current year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, June 8th. SM Energy's dividend payout ratio (DPR) is presently 36.97%.

Analyst Ratings Changes

A number of equities analysts have issued reports on SM shares. Wall Street Zen raised shares of SM Energy from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Mizuho raised their price objective on shares of SM Energy from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of SM Energy from a "neutral" rating to an "overweight" rating and set a $40.00 price objective on the stock in a research note on Friday, March 20th. BMO Capital Markets raised their price objective on shares of SM Energy from $26.00 to $33.00 and gave the company a "market perform" rating in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company raised their price objective on shares of SM Energy from $29.00 to $32.00 and gave the company an "equal weight" rating in a research note on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, SM Energy presently has a consensus rating of "Moderate Buy" and an average price target of $37.07.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.