SM Energy Company $SM Shares Bought by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA significantly increased its stake in SM Energy by 289.9%, bringing its total holdings to 30,682 shares worth approximately $919,000.
• Several hedge funds, including Millennium Management LLC, have also increased their investments in SM Energy, with Millennium's stake rising by 663.7% to 1,884,536 shares valued at $56,442,000.
• The stock has recently faced mixed analyst ratings, with an average rating of "Hold" and a consensus price target of $42.50, affected by downgrades and upgrades from various firms.

Petrus Trust Company LTA raised its stake in SM Energy Company (NYSE:SM - Free Report) by 289.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,682 shares of the energy company's stock after acquiring an additional 22,812 shares during the period. Petrus Trust Company LTA's holdings in SM Energy were worth $919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SM. Millennium Management LLC boosted its stake in SM Energy by 663.7% in the first quarter. Millennium Management LLC now owns 1,884,536 shares of the energy company's stock valued at $56,442,000 after acquiring an additional 1,637,779 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of SM Energy during the first quarter worth approximately $44,005,000. Invesco Ltd. boosted its position in shares of SM Energy by 169.4% during the first quarter. Invesco Ltd. now owns 1,873,860 shares of the energy company's stock worth $56,122,000 after buying an additional 1,178,397 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of SM Energy by 51.4% during the first quarter. Westwood Holdings Group Inc. now owns 3,207,245 shares of the energy company's stock worth $96,057,000 after buying an additional 1,088,948 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of SM Energy during the first quarter worth approximately $25,363,000. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SM has been the subject of several analyst reports. Raymond James Financial downgraded SM Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, June 24th. Wells Fargo & Company reduced their price objective on SM Energy from $33.00 to $29.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. Susquehanna boosted their price objective on SM Energy from $24.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Mizuho boosted their price objective on SM Energy from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, TD Cowen upgraded SM Energy to a "strong-buy" rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $42.50.

SM Energy Price Performance

Shares of NYSE:SM opened at $26.87 on Friday. SM Energy Company has a 12 month low of $19.67 and a 12 month high of $46.42. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 3.79 and a beta of 2.46. The stock's 50 day moving average price is $27.03 and its 200 day moving average price is $26.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.69.

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

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. SM Energy's dividend payout ratio is currently 11.30%.

About SM Energy

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.

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