Corigliano Investment Advisers LLC Takes Position in SM Energy Company $SM

Corigliano Investment Advisers LLC purchased a new stake in SM Energy Company (NYSE:SM) in the 4th quarter, Holdings Channel reports. The fund purchased 462,800 shares of the energy company’s stock, valued at approximately $8,654,000. SM Energy makes up 3.1% of Corigliano Investment Advisers LLC’s holdings, making the stock its 12th biggest position.

Several other hedge funds have also modified their holdings of SM. Royal Bank of Canada lifted its holdings in shares of SM Energy by 27.7% in the 1st quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock valued at $2,753,000 after buying an additional 19,965 shares during the period. AQR Capital Management LLC lifted its holdings in shares of SM Energy by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock valued at $4,370,000 after buying an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of SM Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock valued at $2,040,000 after buying an additional 2,969 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of SM Energy by 44.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock valued at $97,000 after buying an additional 1,007 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of SM Energy in the 1st quarter valued at approximately $222,000. 94.56% of the stock is owned by institutional investors and hedge funds.

SM Energy Stock Performance

Shares of SM stock opened at $28.10 on Thursday. The stock has a fifty day moving average price of $30.60 and a 200 day moving average price of $25.11. The stock has a market cap of $6.74 billion, a PE ratio of 11.81 and a beta of 0.72. SM Energy Company has a 1 year low of $17.45 and a 1 year high of $35.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.42. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.SM Energy’s revenue was up 75.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 earnings per share. Sell-side analysts forecast that SM Energy Company will post 7.29 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, June 22nd. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 3.1%. SM Energy’s dividend payout ratio (DPR) is presently 36.97%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. KeyCorp raised their price target on SM Energy from $29.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Truist Financial lifted their price objective on SM Energy from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Raymond James Financial raised SM Energy from an “underperform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Wednesday, May 20th. Roth Mkm reaffirmed a “neutral” rating and set a $33.00 price objective (up from $24.00) on shares of SM Energy in a report on Wednesday, April 8th. Finally, Zacks Research cut SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.07.

Insiders Place Their Bets

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the firm’s stock in a transaction 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 owned 65,964 shares of the company’s stock, valued at approximately $2,241,456.72. This trade represents a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.