Exchange Traded Concepts LLC Purchases 1,304 Shares of SM Energy (NYSE:SM)

Exchange Traded Concepts LLC increased its position in shares of SM Energy (NYSE:SM) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,834 shares of the energy company’s stock after acquiring an additional 1,304 shares during the period. Exchange Traded Concepts LLC’s holdings in SM Energy were worth $963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of SM Energy during the third quarter worth about $30,000. Blue Trust Inc. grew its holdings in SM Energy by 3,434.5% during the 3rd quarter. Blue Trust Inc. now owns 1,025 shares of the energy company’s stock worth $44,000 after acquiring an additional 996 shares during the last quarter. Millburn Ridgefield Corp bought a new position in shares of SM Energy during the third quarter valued at $55,000. International Assets Investment Management LLC lifted its holdings in shares of SM Energy by 3,897.2% during the third quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company’s stock worth $58,000 after purchasing an additional 1,403 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in shares of SM Energy in the third quarter worth $83,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

SM Energy Stock Performance

Shares of SM Energy stock opened at $39.70 on Wednesday. The business has a 50-day simple moving average of $41.39 and a 200 day simple moving average of $42.59. SM Energy has a one year low of $34.90 and a one year high of $53.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 5.54 and a beta of 4.14.

SM Energy (NYSE:SM) last issued its earnings results on Thursday, October 31st. The energy company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The company had revenue of $643.60 million for the quarter, compared to analyst estimates of $643.67 million. During the same period in the prior year, the firm earned $1.73 earnings per share. SM Energy’s revenue for the quarter was up .4% on a year-over-year basis. On average, research analysts anticipate that SM Energy will post 6.76 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 24th will be issued a $0.20 dividend. The ex-dividend date is Friday, January 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.02%. SM Energy’s dividend payout ratio is presently 11.17%.

Wall Street Analyst Weigh In

SM has been the topic of several recent research reports. TD Cowen raised SM Energy from a “hold” rating to a “buy” rating and cut their target price for the stock from $64.00 to $60.00 in a report on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of SM Energy in a research note on Tuesday, October 8th. Mizuho decreased their target price on shares of SM Energy from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company dropped their price target on shares of SM Energy from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, BMO Capital Markets decreased their price objective on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.90.

SM Energy 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.