Cibc World Markets Corp Buys Shares of 10,708 SM Energy (NYSE:SM)

Cibc World Markets Corp purchased a new stake in shares of SM Energy (NYSE:SM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,708 shares of the energy company's stock, valued at approximately $415,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new position in SM Energy in the third quarter worth $55,000. R Squared Ltd acquired a new position in SM Energy during the 4th quarter worth about $61,000. Legacy Investment Solutions LLC bought a new stake in SM Energy during the 3rd quarter worth about $83,000. Global Retirement Partners LLC increased its position in 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 acquiring an additional 736 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of SM Energy by 517.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,140 shares of the energy company's stock worth $159,000 after acquiring an additional 3,470 shares during the last quarter. 94.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SM has been the subject of several research analyst reports. Mizuho dropped their price objective on shares of SM Energy from $57.00 to $55.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Wells Fargo & Company dropped their target price on SM Energy from $45.00 to $33.00 and set an "equal weight" rating for the company in a research report on Tuesday. Stephens reiterated an "overweight" rating and issued a $57.00 price target on shares of SM Energy in a report on Thursday, January 2nd. Truist Financial boosted their price objective on SM Energy from $42.00 to $45.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Finally, Williams Trading set a $41.00 target price on shares of SM Energy in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.00.

Remove Ads

Insider Buying and Selling

In related news, Director Barton R. Brookman, Jr. bought 7,000 shares of SM Energy stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $32.36 per share, with a total value of $226,520.00. Following the purchase, the director now owns 14,666 shares in the company, valued at approximately $474,591.76. This trade represents a 91.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

SM Energy Trading Down 1.8 %

SM traded down $0.57 during mid-day trading on Thursday, hitting $30.23. The stock had a trading volume of 1,469,413 shares, compared to its average volume of 1,709,225. The stock's fifty day simple moving average is $35.23 and its 200-day simple moving average is $39.54. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 4.52 and a beta of 4.14. SM Energy has a 1-year low of $26.66 and a 1-year high of $53.26. 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 (NYSE:SM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.09). SM Energy had a return on equity of 19.82% and a net margin of 28.63%. The business had revenue of $852.22 million for the quarter, compared to analyst estimates of $849.44 million. As a group, research analysts forecast that SM Energy will post 8.1 EPS for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. SM Energy's dividend payout ratio is presently 11.98%.

SM Energy Company Profile

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.