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 boosted its stake in SM Energy Company (NYSE:SM - Free Report) by 289.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,682 shares of the energy company's stock after purchasing an additional 22,812 shares during the period. Petrus Trust Company LTA's holdings in SM Energy were worth $919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of SM Energy by 69.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company's stock valued at $30,000 after buying an additional 417 shares during the period. Parallel Advisors LLC grew its position in SM Energy by 200.8% in the first quarter. Parallel Advisors LLC now owns 1,119 shares of the energy company's stock valued at $34,000 after acquiring an additional 747 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of SM Energy by 1,097.9% during the first quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company's stock valued at $34,000 after purchasing an additional 1,043 shares during the period. Byrne Asset Management LLC lifted its position 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 worth $44,000 after purchasing an additional 933 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of SM Energy by 80.7% in the first quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company's stock valued at $46,000 after purchasing an additional 679 shares during the period. Hedge funds and other institutional investors own 94.56% of the company's stock.

Analysts Set New Price Targets

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

SM Energy Stock Performance

Shares of SM Energy stock traded down $0.12 during trading hours on Thursday, reaching $27.19. The company's stock had a trading volume of 1,424,739 shares, compared to its average volume of 2,224,233. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.69 and a current ratio of 0.69. SM Energy Company has a one year low of $19.67 and a one year high of $46.42. The company's 50 day simple moving average is $27.10 and its 200 day simple moving average is $26.30. The stock has a market cap of $3.13 billion, a P/E ratio of 3.84 and a beta of 2.46.

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

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 18th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 2.9%. SM Energy's dividend payout ratio (DPR) is currently 11.30%.

SM Energy Company 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.