SM Energy Company $SM Shares Purchased by Swiss National Bank

Key Points

• Swiss National Bank sharply increased its SM Energy stake in Q1, buying 197,533 additional shares and lifting its holdings by 87.1% to 424,233 shares worth about $13.2 million.
• SM Energy reported better-than-expected quarterly results, with EPS of $1.55 versus a $1.13 estimate and revenue of $1.48 billion versus $1.42 billion expected. Revenue rose 75% year over year.
• The stock has attracted continued analyst support, with 10 Buy ratings and 6 Hold ratings and a consensus target price of $36.53. SM also pays a quarterly dividend of $0.22, equal to a 2.7% annualized yield.

Swiss National Bank boosted its position in shares of SM Energy Company (NYSE:SM - Free Report) by 87.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 424,233 shares of the energy company's stock after buying an additional 197,533 shares during the period. Swiss National Bank owned 0.18% of SM Energy worth $13,228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SM. Summit Global Investments grew its position in shares of SM Energy by 1.1% during the fourth quarter. Summit Global Investments now owns 46,417 shares of the energy company's stock worth $868,000 after acquiring an additional 489 shares during the last quarter. State of Wyoming raised its position in SM Energy by 22.2% in the 4th quarter. State of Wyoming now owns 2,748 shares of the energy company's stock valued at $51,000 after purchasing an additional 499 shares during the last quarter. Global Retirement Partners LLC raised its position in SM Energy by 62.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company's stock valued at $26,000 after purchasing an additional 535 shares during the last quarter. First Horizon Corp boosted its stake in SM Energy by 57.4% during the 4th quarter. First Horizon Corp now owns 1,860 shares of the energy company's stock worth $35,000 after purchasing an additional 678 shares during the period. Finally, ProShare Advisors LLC boosted its stake in SM Energy by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 22,211 shares of the energy company's stock worth $415,000 after purchasing an additional 687 shares during the period. Hedge funds and other institutional investors own 94.56% of the company's stock.

Insider Transactions at SM Energy

In other 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 transaction of $834,310.94. Following the completion of the transaction, the director directly owned 65,964 shares of the company's stock, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

SM has been the subject of a number of research reports. Susquehanna upped their target price on shares of SM Energy from $31.00 to $32.00 and gave the company a "neutral" rating in a report on Tuesday. BMO Capital Markets boosted their price target on SM Energy from $26.00 to $33.00 and gave the company a "market perform" rating in a research report on Thursday, April 2nd. Truist Financial reduced their price objective on SM Energy from $39.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. KeyCorp increased their price objective on SM Energy from $29.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Finally, Raymond James Financial lowered their target price on SM Energy from $55.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.53.

SM Energy Stock Down 1.0%

Shares of SM Energy stock opened at $33.19 on Friday. SM Energy Company has a one year low of $17.45 and a one year high of $35.88. The company has a market cap of $7.96 billion, a P/E ratio of 13.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a fifty day moving average of $30.23 and a two-hundred day moving average of $26.84.

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

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, June 8th. SM Energy's payout ratio is currently 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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