Mackenzie Financial Corp Has $2.13 Million Stake in SM Energy Company (NYSE:SM)

Key Points

• Mackenzie Financial Corp significantly reduced its stake in SM Energy Company by 82.9% in the first quarter, currently holding 71,241 shares valued at approximately $2.13 million.
• SM Energy reported an earnings per share (EPS) of $1.50 for the last quarter, exceeding analyst expectations, with revenues of $792.94 million, which marks a 25% increase year-over-year.
• The company declared a quarterly dividend of $0.20 per share, representing an annualized dividend yield of 3.0% and a payout ratio of 11.30%.

Mackenzie Financial Corp trimmed its position in shares of SM Energy Company (NYSE:SM - Free Report) by 82.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,241 shares of the energy company's stock after selling 346,505 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of SM Energy worth $2,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of 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 purchasing an additional 747 shares during the last quarter. Byrne Asset Management LLC increased its stake in shares of 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 during the period. Harbor Capital Advisors Inc. increased its stake in shares of 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 during the period. CWM LLC boosted its holdings in SM Energy by 34.0% during the first quarter. CWM LLC now owns 3,760 shares of the energy company's stock worth $113,000 after buying an additional 955 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new position in SM Energy in the 1st quarter worth approximately $164,000. 94.56% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Stock Performance

SM stock traded up $0.37 during trading hours on Tuesday, reaching $27.40. The stock had a trading volume of 2,358,840 shares, compared to its average volume of 2,139,686. The stock has a market capitalization of $3.15 billion, a PE ratio of 3.87 and a beta of 2.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.57. The stock has a 50-day simple moving average of $26.30 and a 200 day simple moving average of $28.38. SM Energy Company has a fifty-two week low of $19.67 and a fifty-two week high of $47.69.

SM Energy (NYSE:SM - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.27. SM Energy had a net margin of 25.94% and a return on equity of 18.06%. The company had revenue of $792.94 million during the quarter, compared to analysts' expectations of $792.58 million. During the same quarter last year, the company posted $1.85 EPS. SM Energy's quarterly revenue was up 25.0% compared to the same quarter last year. Analysts predict that SM Energy Company will post 8.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.9%. SM Energy's payout ratio is 11.30%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company cut 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 report on Monday, June 16th. Raymond James Financial downgraded shares of SM Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, June 24th. TD Cowen upgraded shares of SM Energy to a "strong-buy" rating in a report on Monday, July 7th. Mizuho boosted their price objective on shares of SM Energy from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Stephens lowered their price objective on SM Energy from $62.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, SM Energy has a consensus rating of "Moderate Buy" and an average target price of $42.50.

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.