SM Energy (NYSE:SM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in SM Energy (NYSE:SM - Free Report) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,796,326 shares of the energy company's stock after selling 414,296 shares during the period. JPMorgan Chase & Co. owned 3.32% of SM Energy worth $151,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SM Energy by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,435 shares of the energy company's stock worth $1,186,000 after purchasing an additional 1,910 shares in the last quarter. nVerses Capital LLC purchased a new stake in SM Energy in the second quarter worth about $147,000. Natixis Advisors LLC boosted its position in SM Energy by 4.2% during the 2nd quarter. Natixis Advisors LLC now owns 54,712 shares of the energy company's stock valued at $2,365,000 after acquiring an additional 2,214 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of SM Energy during the 2nd quarter worth approximately $899,000. Finally, Archer Investment Corp raised its position in shares of SM Energy by 9,650.0% in the 2nd quarter. Archer Investment Corp now owns 1,950 shares of the energy company's stock worth $84,000 after acquiring an additional 1,930 shares in the last quarter. 94.56% of the stock is owned by institutional investors.

SM Energy Price Performance

SM traded up $0.29 on Wednesday, hitting $38.76. 1,290,523 shares of the company's stock traded hands, compared to its average volume of 1,660,065. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.67. The company's 50 day simple moving average is $41.75 and its 200-day simple moving average is $43.13. SM Energy has a one year low of $34.76 and a one year high of $53.26. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 5.41 and a beta of 4.15.

SM Energy (NYSE:SM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.10. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $643.67 million. During the same period last year, the company earned $1.73 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. As a group, research analysts anticipate that SM Energy will post 6.77 EPS for the current year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 24th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, January 24th. This represents a $0.80 dividend on an annualized basis and a yield of 2.06%. SM Energy's dividend payout ratio is currently 11.17%.

Analyst Ratings Changes

SM has been the topic of several research reports. TD Cowen upgraded SM Energy from a "hold" rating to a "buy" rating and dropped their price target for the company from $64.00 to $60.00 in a research report on Tuesday, October 15th. Susquehanna dropped their target price on shares of SM Energy from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Truist Financial decreased their price target on shares of SM Energy from $46.00 to $38.00 and set a "hold" rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $53.00 price objective (up previously from $51.00) on shares of SM Energy in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded shares of SM Energy from a "buy" rating to a "hold" rating in a research note on Friday, September 13th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.64.

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.