Sierra Summit Advisors LLC Purchases Shares of 55,288 SM Energy Company $SM

Key Points

• Sierra Summit Advisors LLC opened a new position in SM Energy during the first quarter, buying 55,288 shares worth about $1.72 million.
• Wall Street sentiment on SM Energy is generally positive, with analysts giving it an average rating of “Moderate Buy” and a consensus price target of about $37.
• The company posted strong quarterly results, reporting $1.55 EPS and $1.48 billion in revenue, both above expectations, while also paying a $0.22 quarterly dividend that annualizes to a 3.3% yield.

Sierra Summit Advisors LLC acquired a new position in shares of SM Energy Company (NYSE:SM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 55,288 shares of the energy company's stock, valued at approximately $1,724,000.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. grew its position in shares of SM Energy by 160.5% in the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company's stock valued at $25,000 after purchasing an additional 830 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in SM Energy by 10,461.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company's stock worth $26,000 after purchasing an additional 1,360 shares during the last quarter. Global Retirement Partners LLC boosted its stake in SM Energy by 62.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock valued at $26,000 after purchasing an additional 535 shares during the period. Johnson Financial Group Inc. bought a new stake in SM Energy in the 3rd quarter valued at $31,000. Finally, First Horizon Corp grew its holdings in SM Energy by 57.4% in the 4th quarter. First Horizon Corp now owns 1,860 shares of the energy company's stock valued at $35,000 after buying an additional 678 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. KeyCorp increased their price objective on SM Energy from $29.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Wall Street Zen raised shares of SM Energy from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Raymond James Financial upgraded shares of SM Energy from an "underperform" rating to an "outperform" rating and set a $55.00 price target on the stock in a research note on Wednesday, May 20th. BMO Capital Markets raised their price target on shares of SM Energy from $26.00 to $33.00 and gave the stock a "market perform" rating in a research report on Thursday, April 2nd. Finally, National Bank Financial set a $30.00 price objective on shares of SM Energy in a research note on Tuesday, March 17th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.00.

Insider Transactions at SM Energy

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $33.98, for a total transaction of $834,310.94. Following the completion of the transaction, the director directly owned 65,964 shares in the company, valued at $2,241,456.72. The trade was a 27.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is owned by company insiders.

SM Energy Stock Performance

NYSE:SM opened at $26.75 on Friday. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 11.24 and a beta of 0.73. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $35.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a fifty day moving average price of $30.27 and a 200-day moving average price of $25.63.

SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.42. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.42 billion. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.SM Energy's revenue was up 75.0% on a year-over-year basis. During the same quarter last year, the business earned $1.76 earnings per share. As a group, equities analysts anticipate that SM Energy Company will post 7.3 EPS for the current fiscal year.

SM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. SM Energy's dividend payout ratio (DPR) is currently 36.97%.

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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