SM Energy Company $SM Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. cut its stake in SM Energy Company (NYSE:SM) by 82.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,549 shares of the energy company’s stock after selling 369,013 shares during the quarter. SummitTX Capital L.P.’s holdings in SM Energy were worth $2,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in SM Energy by 96.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 114,609 shares of the energy company’s stock valued at $2,143,000 after acquiring an additional 56,160 shares in the last quarter. Denali Advisors LLC increased its stake in SM Energy by 22.2% during the 4th quarter. Denali Advisors LLC now owns 300,000 shares of the energy company’s stock worth $5,610,000 after buying an additional 54,428 shares during the period. SG Americas Securities LLC increased its stake in SM Energy by 279.7% during the 4th quarter. SG Americas Securities LLC now owns 150,329 shares of the energy company’s stock worth $2,811,000 after buying an additional 110,735 shares during the period. UBS Group AG increased its stake in SM Energy by 23.0% during the 4th quarter. UBS Group AG now owns 666,070 shares of the energy company’s stock worth $12,456,000 after buying an additional 124,448 shares during the period. Finally, Unison Advisors LLC acquired a new position in SM Energy in the 4th quarter worth $682,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insider Activity at SM Energy

In other news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $33.98, for a total transaction of $834,310.94. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SM shares. Roth Capital raised shares of SM Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. BMO Capital Markets lifted their target price on SM Energy from $26.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Wells Fargo & Company boosted their price target on SM Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, May 18th. Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $41.00 in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded SM Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.53.

SM Energy Trading Down 1.8%

SM opened at $29.76 on Wednesday. The stock has a market capitalization of $7.13 billion, a PE ratio of 12.50 and a beta of 0.73. The firm’s fifty day moving average price is $30.08 and its 200 day moving average price is $27.07. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.39 and a quick ratio of 0.39. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $35.88.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.42. The firm 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 firm’s revenue was up 75.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 EPS. As a group, research analysts expect that SM Energy Company will post 6.95 EPS for the current fiscal year.

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, June 8th. SM Energy’s dividend payout ratio is 36.97%.

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.