PDT Partners LLC Has $388,000 Stake 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 decreased its holdings in shares of SM Energy Company (NYSE:SM - Free Report) by 57.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,952 shares of the energy company's stock after selling 17,278 shares during the quarter. PDT Partners LLC's holdings in SM Energy were worth $388,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its stake in SM Energy by 12.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,355 shares of the energy company's stock valued at $250,000 after purchasing an additional 941 shares during the period. Janney Montgomery Scott LLC boosted its stake in 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 during the period. Range Financial Group LLC boosted its stake in SM Energy by 16.9% during the 1st quarter. Range Financial Group LLC now owns 25,119 shares of the energy company's stock valued at $752,000 after purchasing an additional 3,624 shares during the period. Jefferies Financial Group Inc. bought a new stake in SM Energy during the 1st quarter valued at approximately $656,000. Finally, Invesco Ltd. boosted its stake in SM Energy by 169.4% during the 1st quarter. Invesco Ltd. now owns 1,873,860 shares of the energy company's stock valued at $56,122,000 after purchasing an additional 1,178,397 shares during the period. Institutional investors own 94.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company cut their price target on SM Energy from $33.00 to $29.00 and set an "equal weight" rating for the company in a report on Monday, June 16th. Raymond James Financial cut SM Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, June 24th. TD Cowen raised SM Energy to a "strong-buy" rating in a report on Monday, July 7th. Susquehanna upped their price target on SM Energy from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Mizuho increased their target price on SM Energy from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $42.50.

SM Energy Trading Down 4.8%

Shares of NYSE:SM traded down $1.35 during midday trading on Friday, hitting $26.87. The company had a trading volume of 1,801,731 shares, compared to its average volume of 1,661,575. SM Energy Company has a 12 month low of $19.67 and a 12 month high of $46.42. 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 stock has a market cap of $3.09 billion, a price-to-earnings ratio of 3.79 and a beta of 2.47. The firm has a fifty day simple moving average of $27.03 and a 200 day simple moving average of $26.35.

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 (EPS) for the quarter, topping 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 business had revenue of $792.94 million for the quarter, compared to analyst estimates of $792.58 million. During the same period last year, the company earned $1.85 EPS. The firm's revenue was up 25.0% on a year-over-year basis. On average, analysts predict that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Announces Dividend

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

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.