Abel Hall LLC Purchases Shares of 54,094 SM Energy Company $SM

Abel Hall LLC acquired a new position in SM Energy Company (NYSE:SM) during the 1st quarter, HoldingsChannel reports. The fund acquired 54,094 shares of the energy company’s stock, valued at approximately $1,687,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its position in SM Energy by 27.7% during the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock valued at $2,753,000 after buying an additional 19,965 shares during the period. AQR Capital Management LLC raised its position in shares of SM Energy by 43.9% in the first quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock worth $4,370,000 after acquiring an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of SM Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock worth $2,040,000 after acquiring an additional 2,969 shares during the period. NewEdge Advisors LLC boosted its stake in shares of SM Energy by 44.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after acquiring an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of SM Energy during the 1st quarter worth about $222,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insiders Place Their Bets

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 65,964 shares of the company’s stock, valued at $2,241,456.72. The trade was a 27.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings upgraded SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. KeyCorp increased their target price on SM Energy from $29.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Raymond James Financial upgraded SM Energy from an “underperform” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Wednesday, May 20th. BMO Capital Markets increased their price objective on SM Energy from $26.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, April 2nd. Finally, JPMorgan Chase & Co. upgraded SM Energy from a “neutral” rating to an “overweight” rating and set a $40.00 price objective on the stock in a report on Friday, March 20th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

SM Energy Stock Down 0.4%

Shares of NYSE:SM opened at $26.75 on Monday. The business has a 50-day moving average price of $30.22 and a 200 day moving average price of $25.69. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 11.24 and a beta of 0.73. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $35.88.

SM Energy (NYSE:SM) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.42. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. SM Energy’s revenue for the quarter was up 75.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 earnings per share. Sell-side analysts expect that SM Energy Company will post 7.3 EPS for the current year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, June 8th. SM Energy’s dividend payout ratio (DPR) is 36.97%.

SM Energy Profile

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.