SM Energy (NYSE:SM) Shares Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC boosted its stake in shares of SM Energy (NYSE:SM - Free Report) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,077 shares of the energy company's stock after buying an additional 27,519 shares during the quarter. SM Energy makes up 0.8% of Diversify Advisory Services LLC's portfolio, making the stock its 22nd largest position. Diversify Advisory Services LLC owned 0.29% of SM Energy worth $14,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. abrdn plc increased its position in SM Energy by 6.5% during the 3rd quarter. abrdn plc now owns 466,552 shares of the energy company's stock valued at $18,650,000 after purchasing an additional 28,425 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in SM Energy during the 3rd quarter valued at about $311,000. Assenagon Asset Management S.A. increased its position in SM Energy by 2,217.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 818,032 shares of the energy company's stock valued at $32,697,000 after purchasing an additional 782,728 shares during the period. Moody Aldrich Partners LLC purchased a new position in SM Energy during the 3rd quarter valued at about $4,024,000. Finally, International Assets Investment Management LLC increased its position in SM Energy by 3,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company's stock valued at $58,000 after purchasing an additional 1,403 shares during the period. Institutional investors own 94.56% of the company's stock.

SM Energy Stock Performance

NYSE SM traded down $0.15 on Tuesday, hitting $41.81. 1,300,387 shares of the company's stock traded hands, compared to its average volume of 1,735,983. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. SM Energy has a 1-year low of $34.13 and a 1-year high of $53.26. The firm's 50-day moving average price is $42.62 and its two-hundred day moving average price is $45.42. The firm has a market capitalization of $4.81 billion, a PE ratio of 6.55 and a beta of 4.18.

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

SM Energy Increases Dividend

The company 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 $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 1.91%. The ex-dividend date of this dividend is Friday, October 25th. SM Energy's payout ratio is currently 12.54%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho cut their price objective on shares of SM Energy from $62.00 to $57.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 21st. 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 research report on Wednesday, October 16th. Truist Financial cut their price objective on shares of SM Energy from $46.00 to $38.00 and set a "hold" rating on the stock in a research report on Monday, September 30th. Finally, TD Cowen raised shares of SM Energy from a "hold" rating to a "buy" rating and dropped their target price for the stock from $64.00 to $60.00 in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, SM Energy presently has a consensus rating of "Moderate Buy" and an average target price of $51.73.

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.