Janney Montgomery Scott LLC lifted its stake in SM Energy (NYSE:SM - Free Report) by 144.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,357 shares of the energy company's stock after acquiring an additional 13,215 shares during the period. Janney Montgomery Scott LLC's holdings in SM Energy were worth $894,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in SM Energy by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company's stock valued at $274,161,000 after acquiring an additional 384,675 shares in the last quarter. American Century Companies Inc. increased its position in SM Energy by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 2,361,149 shares of the energy company's stock valued at $102,072,000 after buying an additional 28,005 shares in the last quarter. Westwood Holdings Group Inc. increased its position in SM Energy by 10.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,709,927 shares of the energy company's stock valued at $73,920,000 after buying an additional 157,923 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SM Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,335,624 shares of the energy company's stock valued at $57,739,000 after buying an additional 4,611 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in SM Energy by 929.6% in the second quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company's stock worth $50,125,000 after acquiring an additional 1,046,872 shares in the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SM has been the topic of a number of research analyst reports. Tudor Pickering raised shares of SM Energy to a "strong-buy" rating in a report on Wednesday, August 21st. Mizuho dropped their price target on SM Energy from $62.00 to $57.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Susquehanna reduced their price objective on SM Energy from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 target price on shares of SM Energy in a research report on Tuesday, October 8th. Finally, BMO Capital Markets reduced their price target on shares of SM Energy from $50.00 to $48.00 and set a "market perform" rating for the company in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SM Energy currently has a consensus rating of "Moderate Buy" and an average price target of $50.73.
Check Out Our Latest Research Report on SM Energy
SM Energy Price Performance
SM traded down $0.94 during midday trading on Friday, hitting $43.33. 842,216 shares of the company traded hands, compared to its average volume of 1,432,585. SM Energy has a 52-week low of $34.13 and a 52-week high of $53.26. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.67. The business has a 50 day simple moving average of $42.19 and a two-hundred day simple moving average of $44.83. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 6.05 and a beta of 4.18.
SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.52 by $0.10. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $643.67 million. During the same period in the prior year, the company earned $1.73 EPS. The firm's revenue was up .4% compared to the same quarter last year. On average, equities analysts forecast that SM Energy will post 6.77 earnings per share for the current fiscal year.
SM Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, October 25th. This is a positive change from SM Energy's previous quarterly dividend of $0.18. SM Energy's payout ratio is currently 11.17%.
SM Energy Profile
(
Free Report)
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.
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