State of Alaska Department of Revenue lessened its position in SM Energy Company (NYSE:SM – Free Report) by 2.6% in the first quarter, HoldingsChannel.com reports. The fund owned 63,398 shares of the energy company’s stock after selling 1,664 shares during the period. State of Alaska Department of Revenue’s holdings in SM Energy were worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Gallacher Capital Management LLC boosted its holdings in shares of SM Energy by 4.5% during the 4th quarter. Gallacher Capital Management LLC now owns 8,206 shares of the energy company’s stock worth $318,000 after buying an additional 350 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of SM Energy by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,970 shares of the energy company’s stock worth $464,000 after buying an additional 379 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in shares of SM Energy by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 97,800 shares of the energy company’s stock worth $3,791,000 after buying an additional 400 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of SM Energy by 6.4% during the 4th quarter. Quantinno Capital Management LP now owns 6,718 shares of the energy company’s stock worth $260,000 after buying an additional 402 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of SM Energy by 7.6% during the 4th quarter. National Bank of Canada FI now owns 6,975 shares of the energy company’s stock worth $270,000 after buying an additional 492 shares during the period. Institutional investors own 94.56% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on SM shares. JPMorgan Chase & Co. reduced their target price on shares of SM Energy from $54.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Williams Trading set a $41.00 price objective on shares of SM Energy in a report on Wednesday, March 5th. Susquehanna cut their price objective on shares of SM Energy from $39.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Raymond James Financial reissued an “outperform” rating and issued a $34.00 price objective (up previously from $30.00) on shares of SM Energy in a report on Wednesday, May 28th. Finally, KeyCorp cut their price objective on shares of SM Energy from $60.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.08.
SM Energy Trading Down 7.1%
Shares of NYSE SM opened at $25.59 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.57 and a current ratio of 0.57. SM Energy Company has a 52-week low of $19.67 and a 52-week high of $50.20. The firm has a 50 day moving average price of $24.20 and a two-hundred day moving average price of $31.24. The stock has a market cap of $2.93 billion, a P/E ratio of 3.58 and a beta of 2.19.
SM Energy (NYSE:SM – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The energy company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.16. SM Energy had a net margin of 27.61% and a return on equity of 19.90%. The company had revenue of $844.54 million during the quarter, compared to analysts’ expectations of $814.62 million. During the same period in the prior year, the company posted $1.13 earnings per share. SM Energy’s revenue for the quarter was up 50.8% compared to the same quarter last year. As a group, equities analysts forecast that SM Energy Company will post 8.1 EPS for the current year.
SM Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 18th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Thursday, April 17th. SM Energy’s dividend payout ratio (DPR) is presently 11.20%.
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.
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