Hodges Capital Management Inc. Sells 68,886 Shares of SM Energy Company $SM

Key Points

• Hodges Capital Management Inc. sold 68,886 shares of SM Energy Company, reducing its stake by 48.2%, leaving it with 73,908 shares valued at approximately $2.21 million.
• Institutional investments in SM Energy have increased, with firms like Northwestern Mutual Wealth Management Co. and Parallel Advisors LLC significantly boosting their stakes during the first quarter.
• SM Energy has experienced mixed analyst ratings, with targets ranging from $24.00 to $44.00, reflecting diverse outlooks, but currently holds an average rating of "Hold" with a consensus target price of $42.50.

Hodges Capital Management Inc. cut its holdings in shares of SM Energy Company (NYSE:SM - Free Report) by 48.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,908 shares of the energy company's stock after selling 68,886 shares during the period. Hodges Capital Management Inc. owned 0.06% of SM Energy worth $2,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of SM Energy by 69.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company's stock valued at $30,000 after purchasing an additional 417 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of SM Energy by 200.8% during the first quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock valued at $34,000 after purchasing an additional 747 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of SM Energy by 1,097.9% during the first quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company's stock valued at $34,000 after purchasing an additional 1,043 shares in the last quarter. Byrne Asset Management LLC boosted its stake in shares of SM Energy by 172.8% during the first quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock valued at $44,000 after purchasing an additional 933 shares in the last quarter. Finally, Flaharty Asset Management LLC bought a new position in shares of SM Energy during the first quarter valued at approximately $45,000. 94.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SM has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of SM Energy from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday, June 16th. TD Cowen upgraded shares of SM Energy to a "strong-buy" rating in a research note on Monday, July 7th. Mizuho raised their target price on shares of SM Energy from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial downgraded shares of SM Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. Finally, Susquehanna raised their target price on shares of SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $42.50.

SM Energy Trading Down 0.4%

NYSE SM opened at $27.19 on Friday. The company has a fifty day simple moving average of $27.12 and a two-hundred day simple moving average of $26.25. The stock has a market cap of $3.13 billion, a P/E ratio of 3.84 and a beta of 2.46. SM Energy Company has a 12-month low of $19.67 and a 12-month high of $46.42. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.59.

SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.27. The business had revenue of $792.94 million during the quarter, compared to analysts' expectations of $792.58 million. SM Energy had a net margin of 25.94% and a return on equity of 18.06%. The business's quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company posted $1.85 earnings per share. On average, analysts forecast that SM Energy Company will post 8.1 earnings per share for the current year.

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.9%. SM Energy's dividend payout ratio (DPR) is currently 11.30%.

SM Energy Company 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.

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