Proficio Capital Partners LLC Invests $9.92 Million in SM Energy (NYSE:SM)

Proficio Capital Partners LLC bought a new stake in SM Energy (NYSE:SM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 256,049 shares of the energy company's stock, valued at approximately $9,924,000. Proficio Capital Partners LLC owned approximately 0.22% of SM Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in SM Energy during the third quarter worth about $30,000. Millburn Ridgefield Corp acquired a new position in shares of SM Energy in the 3rd quarter worth approximately $55,000. International Assets Investment Management LLC lifted its position in shares of 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 worth $58,000 after buying an additional 1,403 shares during the period. R Squared Ltd acquired a new stake in SM Energy in the 4th quarter valued at $61,000. Finally, Legacy Investment Solutions LLC bought a new stake in SM Energy in the third quarter valued at $83,000. 94.56% of the stock is owned by institutional investors.

SM Energy Price Performance

Shares of SM Energy stock traded down $1.26 during midday trading on Wednesday, reaching $27.60. The company had a trading volume of 2,993,710 shares, compared to its average volume of 1,679,154. The company has a current ratio of 0.55, a quick ratio of 3.52 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $38.84 and a 200 day simple moving average of $41.18. SM Energy has a 1-year low of $26.69 and a 1-year high of $53.26. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 4.13 and a beta of 4.14.

SM Energy (NYSE:SM - Get Free Report) last released its earnings results on Wednesday, February 19th. The energy company reported $1.91 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.09). SM Energy had a net margin of 28.63% and a return on equity of 19.82%. The firm had revenue of $852.22 million during the quarter, compared to analyst estimates of $849.44 million. As a group, equities research analysts forecast that SM Energy will post 8.1 earnings per share for the current year.

SM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.80 annualized dividend and a yield of 2.90%. SM Energy's dividend payout ratio is currently 11.98%.

Insider Buying and Selling at SM Energy

In other SM Energy news, Director Barton R. Brookman, Jr. bought 7,000 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $32.36 per share, for a total transaction of $226,520.00. Following the transaction, the director now owns 14,666 shares of the company's stock, valued at approximately $474,591.76. The trade was a 91.31 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com cut SM Energy from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Stephens reissued an "overweight" rating and set a $57.00 price target on shares of SM Energy in a report on Thursday, January 2nd. JPMorgan Chase & Co. restated a "neutral" rating and issued a $53.00 price target (up from $51.00) on shares of SM Energy in a research report on Wednesday, December 4th. Truist Financial raised their price objective on shares of SM Energy from $42.00 to $45.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Finally, Mizuho reduced their target price on SM Energy from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Seven equities research 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, SM Energy has a consensus rating of "Moderate Buy" and a consensus price target of $51.90.

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.