Neo Ivy Capital Management Purchases New Stake in SM Energy (NYSE:SM)

Neo Ivy Capital Management bought a new position in shares of SM Energy (NYSE:SM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 59,426 shares of the energy company's stock, valued at approximately $2,376,000. Neo Ivy Capital Management owned about 0.05% of SM Energy at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd boosted its holdings in shares of SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company's stock valued at $26,000 after buying an additional 485 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of SM Energy during the third quarter worth about $30,000. Blue Trust Inc. grew its holdings 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 acquired a new stake in SM Energy in the 3rd quarter valued at approximately $55,000. Finally, International Assets Investment Management LLC lifted 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 worth $58,000 after purchasing an additional 1,403 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial dropped their target price on SM Energy from $46.00 to $38.00 and set a "hold" rating on the stock in a report on Monday, September 30th. TD Cowen upgraded shares of SM Energy from a "hold" rating to a "buy" rating and cut their price target for the company from $64.00 to $60.00 in a research note on Tuesday, October 15th. Susquehanna lowered their price objective on shares of SM Energy from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $53.00 target price (up from $51.00) on shares of SM Energy in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded SM Energy from a "buy" rating to a "hold" rating in a research report on Friday, September 13th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SM Energy has a consensus rating of "Moderate Buy" and an average price target of $51.00.

SM Energy Stock Performance

NYSE SM traded up $0.26 on Wednesday, reaching $40.65. The stock had a trading volume of 308,859 shares, compared to its average volume of 1,675,408. SM Energy has a 1-year low of $34.13 and a 1-year high of $53.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.52 and a quick ratio of 3.52. The company has a market cap of $4.65 billion, a P/E ratio of 5.64 and a beta of 4.15. The firm has a fifty day moving average of $43.36 and a two-hundred day moving average of $44.14.

SM Energy (NYSE:SM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The business had revenue of $643.60 million for the quarter, compared to analyst estimates of $643.67 million. During the same period last year, the firm earned $1.73 earnings per share. SM Energy's revenue for the quarter was up .4% compared to the same quarter last year. On average, equities research analysts anticipate that SM Energy will post 6.77 EPS for the current year.

SM Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were paid a $0.20 dividend. This is a boost from SM Energy's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, October 25th. SM Energy's payout ratio is 11.17%.

SM Energy 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.