Prudential Financial Inc. Sells 263,628 Shares of SM Energy (NYSE:SM)

Prudential Financial Inc. lessened its position in SM Energy (NYSE:SM - Free Report) by 67.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 124,514 shares of the energy company's stock after selling 263,628 shares during the quarter. Prudential Financial Inc. owned approximately 0.11% of SM Energy worth $4,826,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of SM Energy by 47.3% during the third quarter. Barclays PLC now owns 250,218 shares of the energy company's stock valued at $10,002,000 after purchasing an additional 80,343 shares in the last quarter. National Bank of Canada FI bought a new position in SM Energy during the 3rd quarter valued at approximately $259,000. World Investment Advisors LLC purchased a new position in SM Energy during the third quarter valued at $3,048,000. Range Financial Group LLC purchased a new position in SM Energy during the fourth quarter valued at $833,000. Finally, State Street Corp boosted its holdings in SM Energy by 1.9% in the third quarter. State Street Corp now owns 6,287,815 shares of the energy company's stock worth $251,324,000 after acquiring an additional 114,664 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors.

SM Energy Stock Performance

Shares of SM Energy stock traded down $5.09 during trading hours on Thursday, reaching $25.43. 4,465,674 shares of the stock traded hands, compared to its average volume of 1,805,585. SM Energy has a one year low of $25.33 and a one year high of $53.26. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 3.81 and a beta of 3.75. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $33.95 and a 200 day moving average price of $39.22.

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SM Energy (NYSE:SM - Get Free Report) last announced its earnings results on Wednesday, February 19th. The energy company reported $1.91 earnings per share (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 business had revenue of $852.22 million for the quarter, compared to the consensus estimate of $849.44 million. On average, equities research analysts expect that SM Energy will post 8.1 earnings per share for the current fiscal year.

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Friday, April 18th will be issued a $0.20 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.80 dividend on an annualized basis and a yield of 3.15%. SM Energy's dividend payout ratio is currently 11.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on SM Energy from $54.00 to $41.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company decreased their target price on shares of SM Energy from $45.00 to $33.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. Truist Financial increased their price target on shares of SM Energy from $42.00 to $45.00 and gave the company a "hold" rating in a report on Monday, January 13th. Raymond James decreased their price objective on shares of SM Energy from $59.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Finally, Williams Trading set a $41.00 target price on SM Energy in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.00.

Insider Buying and Selling

In other news, Director Barton R. Brookman, Jr. bought 7,000 shares of SM Energy stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $32.36 per share, with a total value of $226,520.00. Following the acquisition, the director now owns 14,666 shares of the company's stock, valued at $474,591.76. The trade was a 91.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

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.