Fox Run Management L.L.C. Buys New Stake in SM Energy Company $SM

Key Points

• Fox Run Management disclosed a new fourth-quarter stake in SM Energy, buying 70,806 shares valued at about $1.32 million.
• SM Energy reported strong quarterly results, with EPS of $1.55 topping estimates and revenue of $1.48 billion, up 75% year over year.
• The company also announced a quarterly dividend of $0.22 per share, while analysts currently rate the stock a Moderate Buy with an average target price of $37.07.

Fox Run Management L.L.C. bought a new stake in SM Energy Company (NYSE:SM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 70,806 shares of the energy company's stock, valued at approximately $1,324,000. Fox Run Management L.L.C. owned about 0.06% of SM Energy at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SM. Royal Bank of Canada increased its holdings in SM Energy by 27.7% in the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company's stock valued at $2,753,000 after buying an additional 19,965 shares during the last quarter. AQR Capital Management LLC increased its holdings in SM Energy by 43.9% in the first quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company's stock valued at $4,370,000 after buying an additional 44,542 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SM Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company's stock valued at $2,040,000 after buying an additional 2,969 shares during the last quarter. NewEdge Advisors LLC increased its holdings in SM Energy by 44.9% in the first quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company's stock valued at $97,000 after buying an additional 1,007 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in SM Energy in the first quarter valued at $222,000. Hedge funds and other institutional investors own 94.56% of the company's stock.

SM Energy Stock Performance

NYSE SM opened at $31.06 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.98. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $35.88. The business's 50-day moving average price is $30.69 and its 200 day moving average price is $24.62. The firm has a market cap of $7.45 billion, a P/E ratio of 13.05 and a beta of 0.72.

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.42. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $1.76 earnings per share. The business's revenue was up 75.0% on a year-over-year basis. On average, equities research analysts expect that SM Energy Company will post 7.3 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, June 22nd. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. SM Energy's dividend payout ratio (DPR) is currently 36.97%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Raymond James Financial raised SM Energy from an "underperform" rating to an "outperform" rating and set a $55.00 target price on the stock in a report on Wednesday, May 20th. BMO Capital Markets raised their price objective on SM Energy from $26.00 to $33.00 and gave the stock a "market perform" rating in a report on Thursday, April 2nd. Stephens raised their price objective on SM Energy from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, February 19th. Mizuho raised their price objective on SM Energy from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Finally, Siebert Williams Shank raised SM Energy from a "hold" rating to a "buy" rating and raised their price objective for the stock from $30.00 to $41.00 in a report on Thursday, May 14th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, SM Energy has an average rating of "Moderate Buy" and an average target price of $37.07.

SM Energy Company 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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