PDT Partners LLC Has $388,000 Position in SM Energy Company $SM

Key Points

• PDT Partners LLC has reduced its stake in SM Energy Company by 57.2%, now holding 12,952 shares worth approximately $388,000.
• Several hedge funds have significantly increased their positions in SM Energy, with Northwestern Mutual Wealth Management Co. raising its stake by 69.5% in the first quarter.
• SM Energy recently reported an EPS of $1.50 for the quarter, exceeding estimates, alongside announcing a quarterly dividend with an annual yield of 2.8%.

PDT Partners LLC lessened its holdings in shares of SM Energy Company (NYSE:SM - Free Report) by 57.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,952 shares of the energy company's stock after selling 17,278 shares during the period. PDT Partners LLC's holdings in SM Energy were worth $388,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Quantinno Capital Management LP lifted its holdings in shares of SM Energy by 6.4% during the 4th quarter. Quantinno Capital Management LP now owns 6,718 shares of the energy company's stock valued at $260,000 after purchasing an additional 402 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SM Energy by 69.5% during 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 in the last quarter. Xponance Inc. lifted its holdings in shares of SM Energy by 6.3% during the 1st quarter. Xponance Inc. now owns 8,688 shares of the energy company's stock valued at $260,000 after purchasing an additional 516 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of SM Energy by 2.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,258 shares of the energy company's stock valued at $637,000 after purchasing an additional 518 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in shares of SM Energy by 3.6% during the 1st quarter. Moody National Bank Trust Division now owns 15,534 shares of the energy company's stock valued at $465,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 94.56% of the company's stock.

Analysts Set New Price Targets

SM has been the topic of several recent analyst reports. Susquehanna lifted their price objective on SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wells Fargo & Company cut their target price on SM Energy from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday, June 16th. Mizuho boosted their target price on SM Energy from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial cut SM Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. Finally, TD Cowen upgraded SM Energy to a "strong-buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $42.50.

SM Energy Stock Up 1.7%

Shares of SM Energy stock traded up $0.43 on Wednesday, reaching $26.51. 223,918 shares of the company were exchanged, compared to its average volume of 2,217,112. SM Energy Company has a one year low of $19.67 and a one year high of $46.42. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 3.75 and a beta of 2.47. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $27.08 and a 200 day moving average of $26.29.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.50 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $792.58 million. During the same quarter in the prior year, the business posted $1.85 EPS. The business's revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts forecast that SM Energy Company will post 8.1 earnings per share for the current year.

SM Energy Dividend Announcement

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