Insight Wealth Strategies LLC Acquires 31,024 Shares of SM Energy (NYSE:SM)

Insight Wealth Strategies LLC lifted its position in shares of SM Energy (NYSE:SM - Free Report) by 60.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,108 shares of the energy company's stock after buying an additional 31,024 shares during the quarter. Insight Wealth Strategies LLC owned approximately 0.07% of SM Energy worth $2,459,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of SM Energy by 22.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,632,255 shares of the energy company's stock worth $179,546,000 after purchasing an additional 835,929 shares during the last quarter. First Trust Advisors LP grew its holdings in SM Energy by 40.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,131 shares of the energy company's stock valued at $103,998,000 after buying an additional 767,779 shares in the last quarter. Raymond James Financial Inc. purchased a new position in SM Energy during the 4th quarter valued at approximately $22,059,000. Fisher Asset Management LLC raised its holdings in shares of SM Energy by 214.7% during the 4th quarter. Fisher Asset Management LLC now owns 519,302 shares of the energy company's stock worth $20,128,000 after acquiring an additional 354,297 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of SM Energy by 8.8% during the 4th quarter. American Century Companies Inc. now owns 3,682,093 shares of the energy company's stock worth $142,718,000 after acquiring an additional 296,601 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SM shares. Williams Trading set a $41.00 target price on shares of SM Energy in a report on Wednesday, March 5th. Mizuho cut their target price on shares of SM Energy from $46.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Wall Street Zen lowered shares of SM Energy from a "buy" rating to a "hold" rating in a report on Friday, February 28th. KeyCorp cut their target price on shares of SM Energy from $60.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Stephens cut their target price on shares of SM Energy from $62.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.42.

SM Energy Trading Down 1.4%

SM traded down $0.34 during trading on Friday, reaching $23.46. The company had a trading volume of 2,466,526 shares, compared to its average volume of 1,980,481. SM Energy has a 52 week low of $19.67 and a 52 week high of $50.77. The stock has a market cap of $2.69 billion, a P/E ratio of 3.51 and a beta of 2.17. The business has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $33.38. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66.

SM Energy (NYSE:SM - Get Free Report) last released its earnings results on Thursday, May 1st. The energy company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.16. SM Energy had a return on equity of 19.82% and a net margin of 28.63%. The business had revenue of $844.54 million during the quarter, compared to the consensus estimate of $814.62 million. During the same period last year, the company earned $1.13 earnings per share. The business's revenue for the quarter was up 50.8% compared to the same quarter last year. On average, equities analysts anticipate that SM Energy will post 8.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 18th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.41%. SM Energy's dividend payout ratio (DPR) is 11.20%.

About SM Energy

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.