Allspring Global Investments Holdings LLC Boosts Stock Position in SM Energy (NYSE:SM)

Allspring Global Investments Holdings LLC grew its stake in shares of SM Energy (NYSE:SM - Free Report) by 39.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 751,453 shares of the energy company's stock after purchasing an additional 213,866 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.65% of SM Energy worth $29,096,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in SM Energy by 41.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,075 shares of the energy company's stock worth $314,000 after purchasing an additional 2,348 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of SM Energy by 28.4% during the 1st quarter. Natixis Advisors L.P. now owns 20,390 shares of the energy company's stock worth $794,000 after buying an additional 4,513 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of SM Energy by 55.1% during the first quarter. MetLife Investment Management LLC now owns 63,571 shares of the energy company's stock valued at $2,476,000 after buying an additional 22,582 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of SM Energy by 2.5% in the first quarter. Great West Life Assurance Co. Can now owns 110,627 shares of the energy company's stock valued at $4,431,000 after acquiring an additional 2,680 shares in the last quarter. Finally, Cibc World Market Inc. purchased a new stake in SM Energy in the first quarter worth about $1,226,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Stock Down 1.9 %

NYSE SM traded down $0.97 during trading on Friday, hitting $50.73. The company's stock had a trading volume of 2,006,453 shares, compared to its average volume of 1,934,475. SM Energy has a fifty-two week low of $25.03 and a fifty-two week high of $53.26. The company has a market cap of $5.87 billion, a PE ratio of 7.38 and a beta of 4.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.45. The business's 50 day simple moving average is $44.93 and its 200-day simple moving average is $40.57.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. SM Energy had a net margin of 34.45% and a return on equity of 20.74%. The firm had revenue of $608.73 million during the quarter, compared to analyst estimates of $611.35 million. During the same period last year, the firm posted $1.29 EPS. SM Energy's revenue was down 9.3% on a year-over-year basis. On average, equities analysts anticipate that SM Energy will post 6.04 EPS for the current fiscal year.

SM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, April 18th. SM Energy's dividend payout ratio (DPR) is presently 10.48%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SM shares. JPMorgan Chase & Co. raised their target price on shares of SM Energy from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday. Raymond James lowered their target price on SM Energy from $53.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, January 8th. KeyCorp lifted their price target on SM Energy from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Friday. Royal Bank of Canada restated a "sector perform" rating and set a $45.00 price objective on shares of SM Energy in a research note on Monday, February 5th. Finally, Mizuho lifted their target price on SM Energy from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $49.29.

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.