Allspring Global Investments Holdings LLC Boosts Stake in SM Energy (NYSE:SM)

Allspring Global Investments Holdings LLC increased its holdings in SM Energy (NYSE:SM) by 12.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 842,960 shares of the energy company’s stock after acquiring an additional 91,507 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SM Energy were worth $42,022,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Register Financial Advisors LLC bought a new position in SM Energy in the 1st quarter valued at $25,000. Hexagon Capital Partners LLC increased 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 last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in SM Energy in the fourth quarter worth about $41,000. Parallel Advisors LLC boosted its stake in SM Energy by 113.9% in the fourth quarter. Parallel Advisors LLC now owns 1,281 shares of the energy company’s stock valued at $50,000 after acquiring an additional 682 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of SM Energy by 3,772.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,394 shares of the energy company’s stock valued at $54,000 after acquiring an additional 1,358 shares during the period. 94.56% of the stock is owned by institutional investors.

SM Energy Stock Up 2.2 %

Shares of NYSE SM opened at $45.32 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $5.21 billion, a P/E ratio of 7.10 and a beta of 4.20. SM Energy has a 52 week low of $29.51 and a 52 week high of $53.26. The business has a 50-day simple moving average of $48.22 and a two-hundred day simple moving average of $44.54.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. The company had revenue of $559.87 million during the quarter, compared to analyst estimates of $568.21 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. Research analysts anticipate that SM Energy will post 6.7 earnings per share for the current fiscal year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.59%. SM Energy’s dividend payout ratio (DPR) is currently 11.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $54.00 price objective on shares of SM Energy in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and set a $63.00 price target on shares of SM Energy in a research report on Thursday, June 27th. Truist Financial cut their price target on SM Energy from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Monday. Wells Fargo & Company boosted their price objective on SM Energy from $45.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, KeyCorp increased their target price on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.89.

Insider Transactions at SM Energy

In other news, SVP Kenneth J. Knott sold 16,000 shares of SM Energy stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $50.28, for a total transaction of $804,480.00. Following the completion of the sale, the senior vice president now owns 114,495 shares in the company, valued at approximately $5,756,808.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

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.