569,118 Shares in SM Energy (NYSE:SM) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in SM Energy (NYSE:SM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 569,118 shares of the energy company's stock, valued at approximately $22,059,000. Raymond James Financial Inc. owned 0.50% of SM Energy at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SM. Pacer Advisors Inc. raised its stake in SM Energy by 2,515.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,463,443 shares of the energy company's stock valued at $178,404,000 after acquiring an additional 4,292,793 shares during the period. Fisher Asset Management LLC raised its position in shares of SM Energy by 214.7% in the fourth quarter. Fisher Asset Management LLC now owns 519,302 shares of the energy company's stock valued at $20,128,000 after purchasing an additional 354,297 shares during the period. Townsquare Capital LLC raised its position in shares of SM Energy by 267.4% in the third quarter. Townsquare Capital LLC now owns 391,107 shares of the energy company's stock valued at $15,633,000 after purchasing an additional 284,665 shares during the period. Bridgewater Associates LP lifted its stake in shares of SM Energy by 136.5% during the 3rd quarter. Bridgewater Associates LP now owns 484,119 shares of the energy company's stock valued at $19,350,000 after buying an additional 279,417 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of SM Energy during the fourth quarter worth $9,924,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

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SM Energy Trading Up 2.9 %

Shares of SM Energy stock traded up $0.88 during midday trading on Wednesday, reaching $31.18. 2,309,264 shares of the company's stock traded hands, compared to its average volume of 1,990,341. The stock has a 50 day moving average of $36.73 and a 200-day moving average of $40.00. SM Energy has a 12 month low of $26.66 and a 12 month high of $53.26. The company has a market cap of $3.57 billion, a PE ratio of 4.67 and a beta of 4.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.52 and a current ratio of 0.55.

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). The firm had revenue of $852.22 million during the quarter, compared to the consensus estimate of $849.44 million. SM Energy had a return on equity of 19.82% and a net margin of 28.63%. As a group, equities analysts expect that SM Energy will post 8.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 24th were paid a $0.20 dividend. The ex-dividend date was Friday, January 24th. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. SM Energy's payout ratio is 11.98%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SM shares. Truist Financial boosted their price objective on SM Energy from $42.00 to $45.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Raymond James lowered their price target on shares of SM Energy from $59.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Mizuho reduced their price objective on shares of SM Energy from $57.00 to $55.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Stephens reiterated an "overweight" rating and issued a $57.00 target price on shares of SM Energy in a research note on Thursday, January 2nd. Finally, Williams Trading set a $41.00 price objective on SM Energy in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.00.

Insider Activity at SM Energy

In related news, Director Barton R. Brookman, Jr. purchased 7,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average price of $32.36 per share, with a total value of $226,520.00. Following the transaction, the director now directly owns 14,666 shares in the company, valued at $474,591.76. This trade represents a 91.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

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.