TD Asset Management Inc Sells 30,848 Shares of SM Energy (NYSE:SM)

TD Asset Management Inc lowered its position in SM Energy (NYSE:SM) by 42.2% during the 2nd quarter, Holdings Channel reports. The firm owned 42,300 shares of the energy company’s stock after selling 30,848 shares during the quarter. TD Asset Management Inc’s holdings in SM Energy were worth $1,829,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in SM Energy during the first quarter worth $25,000. Hexagon Capital Partners LLC lifted its holdings in SM Energy by 509.7% during the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock worth $28,000 after buying an additional 474 shares during the period. Lindbrook Capital LLC lifted its holdings in SM Energy by 54.9% during the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock worth $29,000 after buying an additional 206 shares during the period. Global Retirement Partners LLC lifted its holdings in SM Energy by 665.6% during the first quarter. Global Retirement Partners LLC now owns 689 shares of the energy company’s stock worth $34,000 after buying an additional 599 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of SM Energy by 66.8% during the 1st quarter. UMB Bank n.a. now owns 829 shares of the energy company’s stock valued at $41,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Price Performance

Shares of SM opened at $39.18 on Friday. The business’s 50-day moving average is $43.95 and its two-hundred day moving average is $46.68. The company has a market capitalization of $4.48 billion, a P/E ratio of 6.14 and a beta of 4.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.28. The company had revenue of $634.56 million for the quarter, compared to the consensus estimate of $616.63 million. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. Research analysts predict that SM Energy will post 7.57 earnings per share for the current year.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, July 19th. SM Energy’s dividend payout ratio is currently 11.29%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial decreased their price objective on SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price objective on SM Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday. Tudor, Pickering, Holt & Co. upgraded SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Finally, StockNews.com lowered SM Energy from a “buy” rating to a “hold” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.78.

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.