Connor Clark & Lunn Investment Management Ltd. Invests $753,000 in SM Energy (NYSE:SM)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SM Energy (NYSE:SM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 19,424 shares of the energy company's stock, valued at approximately $753,000.

A number of other hedge funds also recently modified their holdings of SM. Wealthfront Advisers LLC bought a new stake in SM Energy in the 4th quarter valued at about $5,404,000. Inspire Advisors LLC increased its stake in shares of SM Energy by 200.3% in the fourth quarter. Inspire Advisors LLC now owns 15,575 shares of the energy company's stock worth $604,000 after purchasing an additional 10,389 shares in the last quarter. Channing Capital Management LLC raised its position in shares of SM Energy by 6.3% in the fourth quarter. Channing Capital Management LLC now owns 1,167,033 shares of the energy company's stock valued at $45,234,000 after purchasing an additional 68,774 shares during the period. Ruffer LLP purchased a new stake in shares of SM Energy during the 4th quarter valued at approximately $728,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in SM Energy in the 4th quarter worth approximately $666,000. Institutional investors own 94.56% of the company's stock.

SM Energy Price Performance

SM traded down $1.24 on Tuesday, reaching $30.57. The company had a trading volume of 2,272,027 shares, compared to its average volume of 1,703,564. SM Energy has a 52-week low of $26.66 and a 52-week high of $53.26. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 4.58 and a beta of 4.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.52 and a current ratio of 0.55. The business has a 50 day simple moving average of $35.78 and a 200 day simple moving average of $39.67.

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SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings data 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). SM Energy had a net margin of 28.63% and a return on equity of 19.82%. The company had revenue of $852.22 million for the quarter, compared to analysts' expectations of $849.44 million. As a group, sell-side analysts anticipate that SM Energy will post 8.1 EPS for the current year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, January 24th. SM Energy's dividend payout ratio (DPR) is currently 11.98%.

Insider Transactions at SM Energy

In other SM Energy news, Director Barton R. Brookman, Jr. purchased 7,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were purchased at an average cost of $32.36 per share, with a total value 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. The trade was a 91.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SM. Truist Financial boosted their target price 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. Wells Fargo & Company decreased their price objective on SM Energy from $45.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Stephens restated an "overweight" rating and issued a $57.00 target price on shares of SM Energy in a research note on Thursday, January 2nd. StockNews.com cut SM Energy from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of SM Energy from $54.00 to $41.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $48.00.

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.