SM Energy (NYSE:SM) Stock Position Lowered by Tributary Capital Management LLC

Tributary Capital Management LLC cut its stake in shares of SM Energy (NYSE:SM - Free Report) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 557,418 shares of the energy company's stock after selling 11,930 shares during the period. SM Energy accounts for approximately 1.7% of Tributary Capital Management LLC's holdings, making the stock its 23rd biggest holding. Tributary Capital Management LLC owned approximately 0.48% of SM Energy worth $22,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CWM LLC lifted its holdings in shares of SM Energy by 11.4% during the 3rd quarter. CWM LLC now owns 2,853 shares of the energy company's stock valued at $114,000 after acquiring an additional 293 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of SM Energy by 2.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,045 shares of the energy company's stock valued at $477,000 after acquiring an additional 300 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of SM Energy by 63.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company's stock valued at $38,000 after acquiring an additional 340 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of SM Energy by 7.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,843 shares of the energy company's stock valued at $234,000 after acquiring an additional 380 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in SM Energy by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 32,403 shares of the energy company's stock worth $1,401,000 after buying an additional 437 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 price objective on shares of SM Energy in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of SM Energy from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. KeyCorp cut their price objective on shares of SM Energy from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company cut their target price on shares of SM Energy from $48.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 1st. Finally, Truist Financial cut their target price on shares of SM Energy from $46.00 to $38.00 and set a "hold" rating on the stock in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eight have given 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 $51.73.

SM Energy Stock Performance

NYSE SM traded down $1.52 on Monday, hitting $41.96. The stock had a trading volume of 1,161,021 shares, compared to its average volume of 1,738,077. SM Energy has a one year low of $34.13 and a one year high of $53.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 6.60 and a beta of 4.18. The company's 50-day moving average is $42.74 and its two-hundred day moving average is $45.55.

SM Energy (NYSE:SM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.28. The company had revenue of $634.56 million during the quarter, compared to analyst estimates of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. On average, analysts expect that SM Energy will post 7.06 earnings per share for the current year.

SM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from SM Energy's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.91%. SM Energy's dividend payout ratio is currently 12.54%.

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.