SM Energy Company $SM Position Boosted by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in SM Energy by 145.9% in the fourth quarter, ending with 202,977 shares valued at about $3.79 million.
• SM Energy reported strong quarterly results, with EPS of $1.55 versus the $1.13 consensus and revenue of $1.48 billion, up 75% from a year earlier.
• The company also paid a quarterly dividend of $0.22 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $37.

Hsbc Holdings PLC boosted its holdings in SM Energy Company (NYSE:SM - Free Report) by 145.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,977 shares of the energy company's stock after acquiring an additional 120,443 shares during the quarter. Hsbc Holdings PLC owned 0.18% of SM Energy worth $3,788,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. NBC Securities Inc. increased its holdings in shares of SM Energy by 160.5% during 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 period. SBI Securities Co. Ltd. raised its stake in shares of SM Energy by 10,461.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company's stock valued at $26,000 after purchasing an additional 1,360 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in SM Energy by 62.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock worth $26,000 after purchasing an additional 535 shares during the period. Johnson Financial Group Inc. acquired a new stake in SM Energy in the third quarter worth about $31,000. Finally, First Horizon Corp grew its position 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. Institutional investors own 94.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SM shares. BMO Capital Markets raised their target price 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. Raymond James Financial raised shares of SM Energy from an "underperform" rating to an "outperform" rating and set a $55.00 price target for the company in a research note on Wednesday, May 20th. Zacks Research cut shares of SM Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. TD Cowen lowered their price objective on shares of SM Energy from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Finally, Stephens dropped their target price on SM Energy from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, SM Energy currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

SM Energy Stock Performance

NYSE:SM opened at $28.39 on Friday. The company has a 50-day moving average of $30.13 and a 200-day moving average of $25.95. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 11.93 and a beta of 0.73. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98. SM Energy Company has a twelve month low of $17.45 and a twelve month high of $35.88.

SM Energy (NYSE:SM - Get Free Report) last released its 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. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $1.76 EPS. The business's revenue for the quarter was up 75.0% on a year-over-year basis. Analysts forecast that SM Energy Company will post 7.1 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were issued 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 3.1%. SM Energy's dividend payout ratio is currently 36.97%.

Insider Activity

In other news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the completion of the sale, the director owned 65,964 shares in the company, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.

Want to see what other hedge funds are holding SM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SM Energy Company (NYSE:SM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.