Choreo LLC Takes Position in SM Energy (NYSE:SM)

Choreo LLC bought a new position in shares of SM Energy (NYSE:SM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 18,158 shares of the energy company’s stock, valued at approximately $793,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SM. Westwood Holdings Group Inc. grew its stake in shares of SM Energy by 20.0% in the first quarter. Westwood Holdings Group Inc. now owns 1,552,004 shares of the energy company’s stock worth $77,367,000 after acquiring an additional 258,733 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in SM Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,335,624 shares of the energy company’s stock worth $57,739,000 after purchasing an additional 4,611 shares during the period. First Trust Advisors LP raised its position in SM Energy by 22.6% in the 4th quarter. First Trust Advisors LP now owns 1,077,231 shares of the energy company’s stock valued at $41,710,000 after purchasing an additional 198,473 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in shares of SM Energy by 16.3% in the 1st quarter. Congress Asset Management Co. MA now owns 1,021,032 shares of the energy company’s stock valued at $50,898,000 after buying an additional 143,293 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of SM Energy by 12.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 842,960 shares of the energy company’s stock worth $42,022,000 after buying an additional 91,507 shares in the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Stock Up 1.0 %

Shares of NYSE SM opened at $39.18 on Friday. The business has a 50-day moving average price of $43.95 and a 200 day moving average price of $46.68. The stock has a market cap of $4.48 billion, a PE ratio of 6.14 and a beta of 4.18. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. SM Energy has a 52-week low of $34.13 and a 52-week high of $53.26.

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

SM Energy Announces Dividend

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

Analyst Upgrades and Downgrades

SM has been the topic of several analyst reports. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Tudor Pickering upgraded shares of SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Truist Financial lowered their target price on shares of SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company cut their price target on SM Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $54.00 price objective on shares of SM Energy in a research report on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.78.

SM Energy Company 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.