Fifth Third Bancorp Grows Stake in SM Energy Company $SM

Fifth Third Bancorp boosted its stake in shares of SM Energy Company (NYSE:SM) by 6,620.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,818 shares of the energy company’s stock after acquiring an additional 76,660 shares during the quarter. Fifth Third Bancorp’s holdings in SM Energy were worth $2,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SM. NBC Securities Inc. lifted its stake in shares of SM Energy by 160.5% in the 4th quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock valued at $25,000 after purchasing an additional 830 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of SM Energy by 10,461.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock valued at $26,000 after purchasing an additional 1,360 shares during the last quarter. Torren Management LLC raised its holdings in SM Energy by 4,561.1% during the 1st quarter. Torren Management LLC now owns 839 shares of the energy company’s stock valued at $26,000 after buying an additional 821 shares during the period. Global Retirement Partners LLC raised its holdings in SM Energy by 62.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after buying an additional 535 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in SM Energy in the third quarter worth $31,000. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Price Performance

SM Energy stock opened at $32.23 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 13.54 and a beta of 0.73. The firm has a 50-day moving average of $30.13 and a two-hundred day moving average of $26.60. SM Energy Company has a 1 year low of $17.45 and a 1 year high of $35.88.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.42. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The company’s revenue was up 75.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. On average, research analysts forecast that SM Energy Company will post 7.21 earnings per share for the current year.

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. SM Energy’s payout ratio is 36.97%.

Analyst Ratings Changes

Several research firms have commented on SM. Wall Street Zen raised shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. KeyCorp increased their target price on shares of SM Energy from $29.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. BMO Capital Markets upped their price target on shares of SM Energy from $26.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Wells Fargo & Company increased their price objective on shares of SM Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, May 18th. Finally, Raymond James Financial dropped their target price on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, SM Energy currently has a consensus rating of “Moderate Buy” and an average target price of $36.53.

Insiders Place Their Bets

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the company’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 directly owned 65,964 shares in the company, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.45% of the stock is currently owned by company insiders.

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.