Millennium Management LLC Has $56.44 Million Stock Position in SM Energy Company $SM

Key Points

• Millennium Management LLC significantly increased its holdings in SM Energy Company by 663.7%, acquiring an additional 1,637,779 shares during the first quarter, bringing its total ownership to 1,884,536 shares worth approximately $56.4 million.
• SM Energy reported a quarterly EPS of $1.50, exceeding analysts' expectations, with a year-over-year revenue increase of 25.0%, amounting to $792.94 million.
• The company declared a quarterly dividend of $0.20 per share, representing an annualized yield of 3.0%, with a current payout ratio of 11.30%.

Millennium Management LLC lifted its stake in SM Energy Company (NYSE:SM - Free Report) by 663.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,884,536 shares of the energy company's stock after purchasing an additional 1,637,779 shares during the quarter. Millennium Management LLC owned 1.65% of SM Energy worth $56,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of SM Energy by 69.5% in the 1st 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 during the period. Parallel Advisors LLC boosted its position in shares of SM Energy by 200.8% in the 1st 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 during the period. Brooklyn Investment Group boosted its position in shares of SM Energy by 1,097.9% in the 1st 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 during the period. Byrne Asset Management LLC boosted its position in shares of SM Energy by 172.8% in the 1st 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 during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of SM Energy by 80.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock valued at $46,000 after purchasing an additional 679 shares during the period. Institutional investors and hedge funds own 94.56% of the company's stock.

SM Energy Stock Down 1.7%

Shares of SM traded down $0.46 during midday trading on Friday, reaching $26.74. 1,294,835 shares of the stock were exchanged, compared to its average volume of 1,612,430. SM Energy Company has a 12-month low of $19.67 and a 12-month high of $46.42. The firm has a 50 day simple moving average of $27.14 and a 200-day simple moving average of $26.17. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.59. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 3.78 and a beta of 2.46.

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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $792.58 million. During the same period last year, the business earned $1.85 EPS. The business's quarterly revenue was up 25.0% on a year-over-year basis. Research analysts forecast that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Dividend Announcement

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

Analysts Set New Price Targets

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

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.