Public Employees Retirement System of Ohio Raises Stock Holdings in SM Energy Company $SM

Key Points

• The Public Employees Retirement System of Ohio increased its stake in SM Energy Company by 12.5% in the second quarter, owning approximately 93,828 shares valued at $2.3 million.
• SM Energy reported a better-than-expected quarterly earnings of $1.50 per share, exceeding analyst estimates by $0.27, with revenue up 25% year-over-year.
• The company announced a quarterly dividend of $0.20, representing a 3.2% dividend yield, to be paid on November 3rd, with a payout ratio of 11.3%.

Public Employees Retirement System of Ohio raised its holdings in SM Energy Company (NYSE:SM - Free Report) by 12.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,828 shares of the energy company's stock after purchasing an additional 10,435 shares during the period. Public Employees Retirement System of Ohio owned about 0.08% of SM Energy worth $2,318,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its position 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 buying an additional 417 shares in the last quarter. Parallel Advisors LLC raised its position in SM Energy by 200.8% during the first quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock worth $34,000 after acquiring an additional 747 shares during the period. Brooklyn Investment Group lifted its holdings in SM Energy by 1,097.9% during the first 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 in the last quarter. Byrne Asset Management LLC grew its position in shares of SM Energy by 172.8% in the first 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, Flaharty Asset Management LLC purchased a new stake in shares of SM Energy during the first quarter worth about $45,000. 94.56% of the stock is owned by institutional investors and hedge funds.

SM Energy Price Performance

SM stock opened at $24.73 on Friday. SM Energy Company has a 52-week low of $19.67 and a 52-week high of $46.42. 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 stock has a market cap of $2.84 billion, a price-to-earnings ratio of 3.49 and a beta of 2.30. The business has a fifty day moving average of $26.98 and a two-hundred day moving average of $25.90.

SM Energy (NYSE:SM - Get Free Report) last released 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. The business had revenue of $792.94 million during the quarter, compared to analysts' expectations of $792.58 million. SM Energy had a return on equity of 18.06% and a net margin of 25.94%.The company's revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. As a group, research analysts anticipate that SM Energy Company will post 8.1 earnings per share for the current year.

SM Energy Announces Dividend

The business also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 17th. SM Energy's payout ratio is 11.30%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen raised shares of SM Energy to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company decreased their target price on SM Energy from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Monday, June 16th. Mizuho dropped their price target on SM Energy from $44.00 to $39.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Raymond James Financial downgraded SM Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. Finally, Susquehanna lifted their target price on shares of SM Energy from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, SM Energy currently has a consensus rating of "Hold" and an average target price of $42.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.