Redwood Investment Management LLC Invests $2.16 Million in SM Energy Company $SM

Key Points

• Redwood Investment Management acquired 82,815 shares of SM Energy worth approximately $2.16 million during the second quarter. Institutional investors collectively own 94.56% of the company.
• SM Energy reported strong quarterly results, with EPS of $2.19 exceeding estimates of $1.96 and revenue rising 215.3% year over year to $2.50 billion.
• The company declared a quarterly dividend of $0.22, or $0.88 annualized, representing a 2.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $37.93.

Redwood Investment Management LLC purchased a new position in SM Energy Company (NYSE:SM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 82,815 shares of the energy company's stock, valued at approximately $2,161,000.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in SM Energy in the second quarter worth about $1,025,229,000. Canada Pension Plan Investment Board bought a new position in shares of SM Energy during the second quarter valued at approximately $378,288,000. Donald Smith & CO. Inc. bought a new stake in shares of SM Energy in the 2nd quarter worth approximately $199,602,000. Dimensional Fund Advisors LP boosted its position in shares of SM Energy by 79.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company's stock worth $311,678,000 after purchasing an additional 4,426,751 shares in the last quarter. Finally, Webs Creek Capital Management LP purchased a new stake in shares of SM Energy in the 2nd quarter worth approximately $53,257,807,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Price Performance

SM opened at $35.36 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $8.41 billion, a P/E ratio of 6.96 and a beta of 0.73. The company's 50-day simple moving average is $30.64 and its two-hundred day simple moving average is $29.21. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $38.25.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business posted $1.50 earnings per share. The business's revenue for the quarter was up 215.3% on a year-over-year basis. As a group, analysts predict that SM Energy Company will post 7.36 EPS for the current year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 2.5%. SM Energy's dividend payout ratio (DPR) is currently 17.32%.

Insider Buying and Selling

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of SM Energy stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the completion of the sale, the executive vice president owned 14,705 shares of the company's stock, valued at approximately $544,379.10. The trade was a 54.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.45% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on SM shares. Mizuho raised SM Energy to a "strong-buy" rating in a report on Friday, July 31st. Wall Street Zen raised SM Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 22nd. UBS Group assumed coverage on SM Energy in a research report on Tuesday, July 14th. They issued a "buy" rating and a $36.00 price target for the company. Truist Financial upped their price target on shares of SM Energy from $37.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Roth Capital raised shares of SM Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.93.

About SM Energy

SM Energy Company NYSE: SM is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy's operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company's core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.

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