Insight Wealth Strategies LLC Boosts Stake in SM Energy Company $SM

Key Points

• Insight Wealth Strategies LLC increased its stake in SM Energy Company by 30.8% in the second quarter, owning 107,381 shares worth approximately $2.8 million.
• SM Energy's stock currently has a Hold rating from analysts and an average target price of $42.50, with recent analyst opinions showing mixed ratings.
• SM Energy recently announced a quarterly dividend of $0.20, resulting in an annualized yield of 3.0%, with a dividend payout ratio of 11.30%.

Insight Wealth Strategies LLC grew its stake in SM Energy Company (NYSE:SM - Free Report) by 30.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,381 shares of the energy company's stock after buying an additional 25,273 shares during the period. Insight Wealth Strategies LLC owned 0.09% of SM Energy worth $2,796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quantinno Capital Management LP increased its stake in shares of SM Energy by 6.4% in the fourth quarter. Quantinno Capital Management LP now owns 6,718 shares of the energy company's stock worth $260,000 after acquiring an additional 402 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of SM Energy by 69.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company's stock worth $30,000 after acquiring an additional 417 shares during the period. Xponance Inc. increased its stake in shares of SM Energy by 6.3% in the first quarter. Xponance Inc. now owns 8,688 shares of the energy company's stock worth $260,000 after acquiring an additional 516 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of SM Energy by 2.5% in the first quarter. Janney Montgomery Scott LLC now owns 21,258 shares of the energy company's stock worth $637,000 after acquiring an additional 518 shares during the period. Finally, Moody National Bank Trust Division increased its stake in shares of SM Energy by 3.6% in the first quarter. Moody National Bank Trust Division now owns 15,534 shares of the energy company's stock worth $465,000 after acquiring an additional 534 shares during the period. Institutional investors and hedge funds own 94.56% of the company's stock.

Wall Street Analysts Forecast Growth

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

SM Energy Stock Down 1.7%

SM stock opened at $26.74 on Friday. The firm has a market cap of $3.07 billion, a PE ratio of 3.78 and a beta of 2.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.69 and a current ratio of 0.69. The firm's fifty day moving average is $27.14 and its 200 day moving average is $26.17. SM Energy Company has a one year low of $19.67 and a one year high of $46.42.

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

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 18th were given a $0.20 dividend. The ex-dividend date was Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. SM Energy's dividend payout ratio (DPR) is 11.30%.

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.

Want to see what other hedge funds are holding SM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SM Energy Company (NYSE:SM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.