SM Energy Company $SM Shares Bought by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its SM Energy stake by 85.6% in the first quarter, bringing its holdings to 98,026 shares valued at approximately $3.06 million. Institutional investors collectively own 94.56% of the company.
• Analyst sentiment is broadly positive, with SM Energy receiving a “Moderate Buy” consensus rating and an average price target of $36.53. Recent firms upgraded the stock to “Buy” or “Strong Buy,” although Raymond James lowered its target to $48.
• SM Energy exceeded quarterly expectations, reporting $2.19 in earnings per share and $2.50 billion in revenue, with revenue up 215.3% year over year. The company also maintains a quarterly dividend of $0.22 per share, representing a 3.0% annualized yield.

The Manufacturers Life Insurance Company lifted its holdings in shares of SM Energy Company (NYSE:SM - Free Report) by 85.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,026 shares of the energy company's stock after purchasing an additional 45,218 shares during the quarter. The Manufacturers Life Insurance Company's holdings in SM Energy were worth $3,056,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. NBC Securities Inc. lifted its holdings in SM Energy by 160.5% during the 4th quarter. NBC Securities Inc. now owns 1,347 shares of the energy company's stock worth $25,000 after buying an additional 830 shares in the last quarter. SBI Securities Co. Ltd. increased its position 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 worth $26,000 after acquiring an additional 1,360 shares during the period. Torren Management LLC raised its stake in shares of SM Energy by 4,561.1% in the first quarter. Torren Management LLC now owns 839 shares of the energy company's stock valued at $26,000 after acquiring an additional 821 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of SM Energy by 62.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock valued at $26,000 after acquiring an additional 535 shares in the last quarter. Finally, Center for Financial Planning Inc. purchased a new position in SM Energy in the first quarter valued at $31,000. Hedge funds and other institutional investors own 94.56% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SM. Siebert Williams Shank upgraded SM Energy from a "hold" rating to a "buy" rating and upped their price target for the stock from $30.00 to $41.00 in a report on Thursday, May 14th. Raymond James Financial cut their target price on shares of SM Energy from $55.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of SM Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Mizuho upgraded shares of SM Energy to a "strong-buy" rating in a report on Friday, July 31st. Finally, Roth Capital raised shares of SM Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, SM Energy currently has an average rating of "Moderate Buy" and a consensus price target of $36.53.

Insider Buying and Selling at SM Energy

In other news, Director Ramiro G. Peru sold 24,553 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the completion of the sale, the director directly owned 65,964 shares of the company's stock, valued at approximately $2,241,456.72. The trade was a 27.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.45% of the company's stock.

SM Energy Trading Up 0.7%

Shares of SM Energy stock opened at $28.89 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.39 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $29.79 and a 200-day simple moving average of $27.71. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 5.69 and a beta of 0.73. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $35.88.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the previous year, the company earned $1.50 earnings per share. SM Energy's quarterly revenue was up 215.3% compared to the same quarter last year. On average, equities analysts forecast that SM Energy Company will post 6.95 EPS for the current fiscal year.

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.0%. SM Energy's payout ratio is 36.97%.

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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