Janney Montgomery Scott LLC Cuts Stock Position in SM Energy Company $SM

Key Points

• Janney Montgomery Scott LLC reduced its stock position in SM Energy Company by 56.9% in the second quarter, holding 9,163 shares worth $226,000 after selling 12,095 shares.
• The company reported $1.50 in earnings per share for the last quarter, beating estimates, with a revenue increase of 25.0% year-over-year, totaling $792.94 million.
• SM Energy announced a quarterly dividend of $0.20 per share, effective November 3rd, reflecting an annualized dividend yield of 3.8%.

Janney Montgomery Scott LLC cut its holdings in SM Energy Company (NYSE:SM - Free Report) by 56.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,163 shares of the energy company's stock after selling 12,095 shares during the quarter. Janney Montgomery Scott LLC's holdings in SM Energy were worth $226,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in 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 buying an additional 417 shares during the last quarter. Diversified Trust Co lifted its position in shares of SM Energy by 1.8% during the second quarter. Diversified Trust Co now owns 29,209 shares of the energy company's stock worth $722,000 after purchasing an additional 505 shares during the last quarter. Xponance Inc. lifted its position in shares of SM Energy by 6.3% during the first quarter. Xponance Inc. now owns 8,688 shares of the energy company's stock worth $260,000 after purchasing an additional 516 shares during the last quarter. Signaturefd LLC lifted its position in shares of SM Energy by 21.9% during the second quarter. Signaturefd LLC now owns 3,118 shares of the energy company's stock worth $77,000 after purchasing an additional 560 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of SM Energy by 0.6% during the first quarter. Intech Investment Management LLC now owns 123,349 shares of the energy company's stock worth $3,694,000 after purchasing an additional 734 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors.

SM Energy Price Performance

SM opened at $21.28 on Tuesday. The business's 50-day moving average is $26.07 and its two-hundred day moving average is $25.33. SM Energy Company has a 1 year low of $19.67 and a 1 year high of $46.42. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $2.45 billion, a PE ratio of 3.00 and a beta of 2.30.

SM Energy (NYSE:SM - Get Free Report) last posted 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 return on equity of 18.06% and a net margin of 25.94%.The company had revenue of $792.94 million for the quarter, compared to analyst estimates of $792.58 million. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. Research analysts anticipate that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, October 17th. SM Energy's payout ratio is 11.30%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SM shares. Zacks Research downgraded SM Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, October 3rd. Wells Fargo & Company decreased their price objective on SM Energy from $30.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday. Susquehanna decreased their price objective on SM Energy to $27.00 and set a "neutral" rating for the company in a report on Monday. TD Cowen upgraded SM Energy to a "strong-buy" rating in a report on Monday, July 7th. Finally, Royal Bank Of Canada lifted their price objective on SM Energy from $34.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, SM Energy currently has an average rating of "Hold" and an average target price of $37.50.

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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