SM Energy Company (NYSE:SM) Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has increased its stake in SM Energy by 42.2%, acquiring an additional 120,275 shares, bringing its total ownership to about 405,332 shares worth approximately $12.14 million.
• SM Energy reported earnings of $1.50 EPS for the last quarter, outperforming analysts' expectations and showing a revenue increase of 25% year-over-year.
• The company has announced a quarterly dividend of $0.20 per share, reflecting an annualized yield of 3.0%, with a low payout ratio of 11.30%.

Public Sector Pension Investment Board lifted its position in SM Energy Company (NYSE:SM - Free Report) by 42.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 405,332 shares of the energy company's stock after purchasing an additional 120,275 shares during the period. Public Sector Pension Investment Board owned about 0.35% of SM Energy worth $12,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SM. Parallel Advisors LLC increased its stake in shares of SM Energy by 200.8% in the first quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock worth $34,000 after purchasing an additional 747 shares in the last quarter. Byrne Asset Management LLC grew its stake in SM Energy by 172.8% during the first quarter. Byrne Asset Management LLC now owns 1,473 shares of the energy company's stock valued at $44,000 after acquiring an additional 933 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in SM Energy by 80.7% during the first quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock valued at $46,000 after acquiring an additional 679 shares in the last quarter. CWM LLC grew its stake in SM Energy by 34.0% during the first quarter. CWM LLC now owns 3,760 shares of the energy company's stock valued at $113,000 after acquiring an additional 955 shares in the last quarter. Finally, Portside Wealth Group LLC purchased a new position in SM Energy during the first quarter valued at $164,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SM has been the subject of several research analyst reports. Raymond James Financial cut shares of SM Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, June 24th. Mizuho raised their target price on shares of SM Energy from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Susquehanna raised their target price on shares of SM Energy from $24.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their price target on shares of 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. Finally, TD Cowen raised shares of SM Energy to a "strong-buy" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, SM Energy has an average rating of "Moderate Buy" and a consensus target price of $42.50.

SM Energy Stock Down 2.1%

Shares of SM Energy stock traded down $0.56 on Friday, reaching $26.17. The stock had a trading volume of 2,298,135 shares, compared to its average volume of 2,035,052. The stock has a market capitalization of $3.01 billion, a P/E ratio of 3.70 and a beta of 2.29. SM Energy Company has a 1 year low of $19.67 and a 1 year high of $47.69. 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 50 day moving average price of $26.75 and a 200 day moving average price of $27.57.

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.23 by $0.27. The business had revenue of $792.94 million for the quarter, compared to the consensus estimate of $792.58 million. SM Energy had a net margin of 25.94% and a return on equity of 18.06%. The business's revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 EPS. As a group, equities research analysts forecast 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. Investors of record on Friday, July 18th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. SM Energy's dividend payout ratio 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.