Tiptree Advisors LLC Acquires New Shares in SM Energy Company $SM

Key Points

• Tiptree Advisors acquired 120,000 shares of SM Energy in the second quarter, valued at approximately $3.1 million. Institutional investors collectively own 94.56% of the company.
• SM Energy reported a strong quarter, with EPS of $2.19 beating estimates of $1.96 and revenue rising 215.3% year over year to $2.50 billion.
• The company declared a quarterly dividend of $0.22 per share, equivalent to an annualized dividend of $0.88 and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with a $37.93 target price.

Tiptree Advisors LLC purchased a new stake in SM Energy Company (NYSE:SM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 120,000 shares of the energy company's stock, valued at approximately $3,132,000. SM Energy comprises approximately 1.9% of Tiptree Advisors LLC's portfolio, making the stock its 18th largest holding. Tiptree Advisors LLC owned 0.05% of SM Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SM. Freestone Grove Partners LP bought a new stake in shares of SM Energy in the 2nd quarter valued at $311,000. Man Group plc acquired a new position in SM Energy during the 2nd quarter valued at about $1,200,000. Jupiter Topco LLC bought a new stake in SM Energy during the second quarter worth $2,802,000. Expect Equity LLC purchased a new stake in shares of SM Energy in the second quarter valued at about $2,501,000. Finally, Palisade Capital Management LP purchased a new position in shares of SM Energy in the 2nd quarter worth approximately $11,017,000. 94.56% of the stock is owned by institutional investors.

SM Energy Trading Down 0.9%

Shares of SM opened at $35.36 on Thursday. The stock has a market capitalization of $8.41 billion, a PE ratio of 6.96 and a beta of 0.73. The company's fifty day moving average is $30.64 and its 200 day moving average is $29.21. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $38.25. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62.

SM Energy (NYSE:SM - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.23. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business's revenue was up 215.3% on a year-over-year basis. During the same quarter last year, the business earned $1.50 EPS. Sell-side analysts expect that SM Energy Company will post 7.36 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 4th. SM Energy's dividend payout ratio (DPR) is currently 17.32%.

Analyst Ratings Changes

SM has been the subject of a number of recent research reports. Truist Financial raised their target price on SM Energy from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Mizuho upgraded SM Energy to a "strong-buy" rating in a research report on Friday, July 31st. Stephens decreased their price objective on shares of SM Energy from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, July 7th. Roth Capital raised SM Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of SM Energy in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, SM Energy currently has an average rating of "Moderate Buy" and a consensus target price of $37.93.

Insider Buying and Selling

In other news, EVP James Barker Lebeck sold 17,500 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the sale, the executive vice president directly owned 14,705 shares of the company's stock, valued at $544,379.10. This represents a 54.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.45% of the company's stock.

SM Energy Company 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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