SM Energy (NYSE:SM) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in SM Energy (NYSE:SM - Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,234,890 shares of the energy company's stock after purchasing an additional 25,857 shares during the quarter. Bank of New York Mellon Corp owned 1.08% of SM Energy worth $47,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hussman Strategic Advisors Inc. purchased a new position in shares of SM Energy in the 4th quarter valued at approximately $814,000. Global Retirement Partners LLC grew its stake in shares of SM Energy by 51.0% in the 4th quarter. Global Retirement Partners LLC now owns 2,179 shares of the energy company's stock valued at $84,000 after purchasing an additional 736 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of SM Energy in the 4th quarter valued at approximately $292,000. Sanctuary Advisors LLC lifted its holdings in shares of SM Energy by 105.2% in the 4th quarter. Sanctuary Advisors LLC now owns 68,068 shares of the energy company's stock valued at $2,696,000 after buying an additional 34,895 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of SM Energy by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 635,822 shares of the energy company's stock valued at $24,644,000 after buying an additional 24,701 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SM. Truist Financial raised their price target on SM Energy from $42.00 to $45.00 and gave the company a "hold" rating in a report on Monday, January 13th. Wells Fargo & Company reduced their price target on SM Energy from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $53.00 price target (up from $51.00) on shares of SM Energy in a report on Wednesday, December 4th. Mizuho reduced their price objective on SM Energy from $57.00 to $55.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Finally, StockNews.com cut SM Energy from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.90.

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Insider Activity at SM Energy

In other SM Energy news, Director Barton R. Brookman, Jr. bought 7,000 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $32.36 per share, for a total transaction of $226,520.00. Following the completion of the purchase, the director now owns 14,666 shares of the company's stock, valued at $474,591.76. This trade represents a 91.31 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company's stock.

SM Energy Price Performance

SM Energy stock traded up $0.41 during mid-day trading on Friday, hitting $27.56. 2,560,350 shares of the company were exchanged, compared to its average volume of 1,683,656. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.55 and a quick ratio of 3.52. The business's 50 day simple moving average is $38.23 and its two-hundred day simple moving average is $40.84. The company has a market capitalization of $3.15 billion, a P/E ratio of 4.13 and a beta of 4.14. SM Energy has a 12-month low of $26.66 and a 12-month high of $53.26.

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The energy company reported $1.91 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.09). The company had revenue of $852.22 million for the quarter, compared to analysts' expectations of $849.44 million. SM Energy had a return on equity of 19.82% and a net margin of 28.63%. Analysts forecast that SM Energy will post 8.1 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 24th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, January 24th. SM Energy's dividend payout ratio is currently 11.98%.

About SM Energy

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.