SM Energy Company $SM Holdings Trimmed by Hsbc Holdings PLC

Key Points

• HSBC Holdings cut its SM Energy stake by 70.8% in the first quarter, selling 143,752 shares and retaining 59,225 shares valued at approximately $1.86 million. Institutional investors collectively own 94.56% of the company.
• SM Energy reported quarterly EPS of $1.55, beating analyst expectations of $1.13, while revenue rose 75% year over year to $1.48 billion. The company forecasts full-year EPS of $6.95.
• The company paid a quarterly dividend of $0.22, equivalent to an annualized $0.88 dividend and a 2.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $36.53.

Hsbc Holdings PLC reduced its position in shares of SM Energy Company (NYSE:SM - Free Report) by 70.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,225 shares of the energy company's stock after selling 143,752 shares during the quarter. Hsbc Holdings PLC's holdings in SM Energy were worth $1,861,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SM. Mitsubishi UFJ Trust & Banking Corp raised its position in SM Energy by 96.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 114,609 shares of the energy company's stock valued at $2,143,000 after buying an additional 56,160 shares during the period. Denali Advisors LLC lifted its stake in SM Energy by 22.2% in the 4th quarter. Denali Advisors LLC now owns 300,000 shares of the energy company's stock worth $5,610,000 after acquiring an additional 54,428 shares in the last quarter. SG Americas Securities LLC boosted its position in SM Energy by 279.7% during the 4th quarter. SG Americas Securities LLC now owns 150,329 shares of the energy company's stock worth $2,811,000 after acquiring an additional 110,735 shares during the period. UBS Group AG boosted its position in SM Energy by 23.0% during the 4th quarter. UBS Group AG now owns 666,070 shares of the energy company's stock worth $12,456,000 after acquiring an additional 124,448 shares during the period. Finally, Wedge Capital Management L L P NC grew its stake in SM Energy by 16.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 617,859 shares of the energy company's stock valued at $11,554,000 after acquiring an additional 87,834 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company's stock.

SM Energy Price Performance

SM opened at $33.19 on Monday. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 13.94 and a beta of 0.73. SM Energy Company has a 1 year low of $17.45 and a 1 year high of $35.88. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98. The stock has a fifty day moving average price of $30.23 and a 200 day moving average price of $26.90.

SM Energy (NYSE:SM - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.42. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The business's quarterly revenue was up 75.0% compared to the same quarter last year. Analysts forecast that SM Energy Company will post 6.95 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. SM Energy's payout ratio is presently 36.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James Financial dropped their target price on SM Energy from $55.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, July 21st. UBS Group initiated coverage on shares of SM Energy in a report on Tuesday, July 14th. They set a "buy" rating and a $36.00 price target for the company. Mizuho lowered their price objective on shares of SM Energy from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 7th. Zacks Research downgraded shares of SM Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, BMO Capital Markets upped their price objective on shares of SM Energy from $26.00 to $33.00 and gave the company a "market perform" rating in a research note on Thursday, April 2nd. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.53.

Insider Activity at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the transaction, the director owned 65,964 shares in the company, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.45% of the company's stock.

SM Energy Profile

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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