New York State Teachers Retirement System Sells 16,848 Shares of SM Energy Company $SM

Key Points

• The New York State Teachers Retirement System sold 16,848 shares of SM Energy Company, reducing its position by 9.6% and leaving it with approximately 158,213 shares valued at $3,909,000.
• Analyst ratings for SM Energy have varied, with Wells Fargo decreasing the target price from $30.00 to $23.00 and a consensus rating of "Hold" with an average target price of $37.50.
• SM Energy announced a quarterly dividend of $0.20 per share, reflecting a 3.8% dividend yield and an annualized payout of $0.80.

New York State Teachers Retirement System reduced its position in SM Energy Company (NYSE:SM - Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,213 shares of the energy company's stock after selling 16,848 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of SM Energy worth $3,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SM. SG Americas Securities LLC lifted its position in SM Energy by 122.3% in the first quarter. SG Americas Securities LLC now owns 17,723 shares of the energy company's stock worth $531,000 after purchasing an additional 9,751 shares during the period. Janney Montgomery Scott LLC lifted its position in 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 purchasing an additional 518 shares during the period. Diversified Trust Co lifted its position in SM Energy by 31.8% in the first quarter. Diversified Trust Co now owns 28,704 shares of the energy company's stock worth $860,000 after purchasing an additional 6,928 shares during the period. Peregrine Capital Management LLC lifted its position in SM Energy by 31.7% in the first quarter. Peregrine Capital Management LLC now owns 162,849 shares of the energy company's stock worth $4,877,000 after purchasing an additional 39,165 shares during the period. Finally, Miller Howard Investments Inc. NY lifted its position in SM Energy by 11.9% in the first quarter. Miller Howard Investments Inc. NY now owns 46,039 shares of the energy company's stock worth $1,379,000 after purchasing an additional 4,880 shares during the period. 94.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SM. Wells Fargo & Company reduced their target price on SM Energy from $30.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday. Zacks Research lowered SM Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, October 3rd. Susquehanna dropped their price objective on SM Energy to $27.00 and set a "neutral" rating for the company in a research note on Monday. Mizuho set a $38.00 price objective on SM Energy in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of SM Energy in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $37.50.

SM Energy Stock Performance

Shares of NYSE:SM opened at $21.28 on Tuesday. SM Energy Company has a twelve month low of $19.67 and a twelve month high of $46.42. The firm has a market cap of $2.45 billion, a PE ratio of 3.00 and a beta of 2.30. 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 business has a fifty day moving average of $26.07 and a 200-day moving average of $25.33.

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 for the quarter, beating 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 analyst estimates of $792.58 million. During the same period last year, the company posted $1.85 earnings per share. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts predict that SM Energy Company will post 8.1 EPS for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 17th will be paid a $0.20 dividend. The ex-dividend date is Friday, October 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. 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.

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