Bank of New York Mellon Corp Has $44.20 Million Stock Position in SM Energy Company $SM

Bank of New York Mellon Corp boosted its holdings in SM Energy Company (NYSE:SM) by 95.5% in the first quarter, HoldingsChannel reports. The firm owned 1,417,686 shares of the energy company’s stock after purchasing an additional 692,452 shares during the period. Bank of New York Mellon Corp’s holdings in SM Energy were worth $44,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. grew its position in shares of SM Energy by 160.5% during the 4th quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock worth $25,000 after buying an additional 830 shares during the period. SBI Securities Co. Ltd. lifted 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 acquiring an additional 1,360 shares during the period. Torren Management LLC lifted its position in shares of 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 acquiring an additional 821 shares during the period. Global Retirement Partners LLC boosted its stake in SM Energy by 62.9% during the fourth 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 in the last quarter. Finally, Center for Financial Planning Inc. acquired a new stake in SM Energy in the first quarter worth $31,000. 94.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Roth Capital upgraded SM Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $32.00 in a research note on Monday, June 22nd. Wells Fargo & Company boosted their target price on SM Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, May 18th. KeyCorp upped their price target on SM Energy from $29.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, UBS Group assumed coverage on SM Energy in a report on Tuesday, July 14th. They issued a “buy” rating and a $36.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.53.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 24,553 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $33.98, for a total transaction of $834,310.94. Following the sale, the director owned 65,964 shares of the company’s stock, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

SM Energy Price Performance

Shares of NYSE:SM opened at $33.19 on Friday. SM Energy Company has a twelve month low of $17.45 and a twelve month high of $35.88. The firm has a market capitalization of $7.96 billion, a PE ratio of 13.94 and a beta of 0.73. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $30.23 and a two-hundred day moving average price of $26.84.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The business’s revenue for the quarter was up 75.0% compared to the same quarter last year. Equities analysts forecast that SM Energy Company will post 6.95 EPS for the current year.

SM Energy Announces Dividend

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