Insider Buying: SM Energy (NYSE:SM) Director Buys 7,000 Shares of Stock

SM Energy (NYSE:SM - Get Free Report) Director Barton R. Brookman, Jr. bought 7,000 shares of the stock in a transaction dated 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 acquisition, the director now owns 14,666 shares of the company's stock, valued at approximately $474,591.76. This represents a 91.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SM Energy Price Performance

Shares of NYSE SM traded down $2.67 during midday trading on Monday, hitting $30.04. The company had a trading volume of 2,524,708 shares, compared to its average volume of 1,820,408. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 4.50 and a beta of 4.11. The business has a 50-day simple moving average of $39.01 and a two-hundred day simple moving average of $41.30. SM Energy has a twelve month low of $29.43 and a twelve month high of $53.26.

SM Energy (NYSE:SM - Get Free Report) last announced its earnings results on Wednesday, February 19th. The energy company reported $1.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($0.09). The business 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%. Equities research analysts anticipate that SM Energy will post 8.1 earnings per share for the current year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Friday, January 24th. SM Energy's payout ratio is currently 11.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of SM Energy from a "buy" rating to a "hold" rating in a report on Friday. Truist Financial lifted 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $53.00 target price (up previously from $51.00) on shares of SM Energy in a report on Wednesday, December 4th. Mizuho lowered their target price on shares of SM Energy from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Finally, Stephens reaffirmed an "overweight" rating and issued a $57.00 target price on shares of SM Energy in a report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.90.

Hedge Funds Weigh In On SM Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in SM Energy during the third quarter worth about $30,000. Blue Trust Inc. raised its position in shares of SM Energy by 3,434.5% in the third quarter. Blue Trust Inc. now owns 1,025 shares of the energy company's stock valued at $44,000 after buying an additional 996 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of SM Energy in the third quarter valued at approximately $55,000. International Assets Investment Management LLC raised its position in shares of 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 buying an additional 1,403 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of SM Energy in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 94.56% of the company's stock.

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.