7,539 Shares in SM Energy (NYSE:SM) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc purchased a new position in shares of SM Energy (NYSE:SM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,539 shares of the energy company's stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also modified their holdings of SM. Harbor Capital Advisors Inc. acquired a new position in SM Energy during the 3rd quarter worth $30,000. Blue Trust Inc. grew its position in shares of SM Energy by 3,434.5% during the third quarter. Blue Trust Inc. now owns 1,025 shares of the energy company's stock worth $44,000 after buying an additional 996 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of SM Energy during the third quarter worth approximately $55,000. International Assets Investment Management LLC raised its holdings in SM Energy by 3,897.2% in the third quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company's stock valued at $58,000 after acquiring an additional 1,403 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in SM Energy in the fourth quarter valued at approximately $61,000. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SM. Truist Financial raised their price objective on shares of SM Energy from $42.00 to $45.00 and gave the company a "hold" rating in a report on Monday, January 13th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $53.00 price target (up from $51.00) on shares of SM Energy in a research note on Wednesday, December 4th. Stephens reaffirmed an "overweight" rating and set a $57.00 price objective on shares of SM Energy in a research report on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on SM Energy from $47.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Finally, Mizuho decreased their target price on SM Energy from $57.00 to $55.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, SM Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.90.

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SM Energy Stock Performance

Shares of NYSE:SM traded up $0.22 on Friday, reaching $32.74. The company's stock had a trading volume of 1,724,599 shares, compared to its average volume of 1,802,313. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.55 and a quick ratio of 3.52. SM Energy has a 52-week low of $31.80 and a 52-week high of $53.26. The stock's 50-day moving average is $39.23 and its two-hundred day moving average is $41.55. The stock has a market capitalization of $3.75 billion, a P/E ratio of 4.90 and a beta of 4.11.

SM Energy (NYSE:SM - Get Free Report) last issued 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 analyst estimates of $849.44 million. SM Energy had a return on equity of 19.82% and a net margin of 28.63%. As a group, sell-side analysts forecast that SM Energy will post 8.1 EPS for the current year.

SM Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 24th were paid a $0.20 dividend. The ex-dividend date was Friday, January 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.44%. SM Energy's dividend payout ratio (DPR) is presently 11.98%.

Insider Buying and Selling at SM Energy

In related news, Director Barton R. Brookman, Jr. bought 7,000 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $32.36 per share, with a total value of $226,520.00. Following the completion of the acquisition, the director now owns 14,666 shares in the company, valued at approximately $474,591.76. This represents a 91.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by corporate insiders.

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.