Fearnley Asset Management AS Invests $16.38 Million in SM Energy Company $SM

Fearnley Asset Management AS purchased a new stake in SM Energy Company (NYSE:SM) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 875,900 shares of the energy company’s stock, valued at approximately $16,379,000. SM Energy comprises 7.5% of Fearnley Asset Management AS’s portfolio, making the stock its 7th biggest position. Fearnley Asset Management AS owned approximately 0.76% of SM Energy as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the business. NBC Securities Inc. boosted its holdings in shares of SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock valued at $25,000 after acquiring an additional 830 shares during the period. SBI Securities Co. Ltd. grew its position in shares of SM Energy by 10,461.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock worth $26,000 after acquiring an additional 1,360 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of SM Energy by 62.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock worth $26,000 after acquiring an additional 535 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of SM Energy in the 3rd quarter worth about $31,000. Finally, Jones Financial Companies Lllp lifted its position in SM Energy by 316.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,200 shares of the energy company’s stock valued at $33,000 after purchasing an additional 912 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insider Activity

In other news, Director Ramiro G. Peru sold 24,553 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the completion of the sale, the director owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This trade represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.45% of the stock is owned by insiders.

Analyst Ratings Changes

SM has been the subject of several analyst reports. BMO Capital Markets boosted their price objective on SM Energy from $26.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. TD Cowen lowered their target price on SM Energy from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Mizuho lifted their target price on SM Energy from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Susquehanna boosted their price target on SM Energy from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company increased their price target on SM Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.07.

SM Energy Stock Performance

SM Energy stock opened at $27.11 on Friday. The firm’s 50 day simple moving average is $30.48 and its 200-day simple moving average is $25.18. The company has a market cap of $6.50 billion, a P/E ratio of 11.39 and a beta of 0.72. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.39 and a quick ratio of 0.39. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $35.88.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.13 by $0.42. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The firm’s quarterly revenue was up 75.0% on a year-over-year basis. As a group, equities research analysts predict that SM Energy Company will post 7.3 EPS for the current year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.2%. SM Energy’s dividend payout ratio is presently 36.97%.

About SM Energy

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.