Weiss Asset Management LP Trims Stock Position in SM Energy Company $SM

Weiss Asset Management LP cut its holdings in shares of SM Energy Company (NYSE:SM) by 63.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,200 shares of the energy company’s stock after selling 68,027 shares during the period. Weiss Asset Management LP’s holdings in SM Energy were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of SM Energy by 27.7% during 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 last quarter. AQR Capital Management LLC boosted its stake in shares of SM Energy by 43.9% in the first quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock worth $4,370,000 after buying an additional 44,542 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in SM Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock worth $2,040,000 after acquiring an additional 2,969 shares during the period. NewEdge Advisors LLC grew its holdings in SM Energy by 44.9% during the first quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after acquiring an additional 1,007 shares during the period. Finally, United Services Automobile Association purchased a new position in SM Energy during the first quarter valued at approximately $222,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SM has been the subject of several analyst reports. Roth Capital upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $32.00 in a research note on Monday, June 22nd. UBS Group assumed coverage on shares of SM Energy in a report on Tuesday, July 14th. They issued a “buy” rating and a $36.00 price objective for the company. 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 research report on Tuesday, July 7th. BMO Capital Markets increased their target price on shares of SM Energy from $26.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, April 2nd. Finally, Mizuho dropped their target price on SM Energy from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.53.

Insider Buying and Selling at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of SM Energy 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 sale, the director directly owned 65,964 shares in the company, valued at approximately $2,241,456.72. The trade was a 27.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.45% of the stock is currently owned by company insiders.

SM Energy Price Performance

SM Energy stock opened at $30.33 on Tuesday. The company’s fifty day moving average price is $30.17 and its 200 day moving average price is $26.99. SM Energy Company has a 1 year low of $17.45 and a 1 year high of $35.88. The stock has a market capitalization of $7.27 billion, a P/E ratio of 12.74 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.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The firm’s revenue for the quarter was up 75.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 earnings per share. As a group, equities research analysts anticipate that SM Energy Company will post 6.95 earnings per share for the current fiscal year.

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, June 8th. SM Energy’s dividend 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.