ProShare Advisors LLC Sells 5,537 Shares of SM Energy (NYSE:SM)

ProShare Advisors LLC reduced its position in shares of SM Energy (NYSE:SM) by 23.7% in the second quarter, HoldingsChannel.com reports. The firm owned 17,828 shares of the energy company’s stock after selling 5,537 shares during the period. ProShare Advisors LLC’s holdings in SM Energy were worth $771,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Register Financial Advisors LLC purchased a new position in SM Energy during the 1st quarter valued at $25,000. Plato Investment Management Ltd boosted its position in SM Energy by 461.9% during the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after acquiring an additional 485 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of SM Energy by 509.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock worth $28,000 after acquiring an additional 474 shares during the period. Lindbrook Capital LLC raised its position in shares of SM Energy by 54.9% in the 1st quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock worth $29,000 after acquiring an additional 206 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of SM Energy by 63.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock worth $38,000 after acquiring an additional 340 shares in the last quarter. 94.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial reduced their price target on SM Energy from $49.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Stephens reissued an “overweight” rating and set a $63.00 price objective on shares of SM Energy in a research note on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $54.00 price objective on shares of SM Energy in a report on Tuesday, July 9th. Tudor Pickering raised SM Energy to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. cut their price target on SM Energy from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, SM Energy has a consensus rating of “Moderate Buy” and an average target price of $53.22.

SM Energy Trading Up 4.6 %

SM Energy stock opened at $39.81 on Friday. SM Energy has a one year low of $34.13 and a one year high of $53.26. The business’s fifty day moving average is $43.00 and its 200 day moving average is $46.46. The stock has a market capitalization of $4.58 billion, a PE ratio of 6.24 and a beta of 4.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The firm had revenue of $634.56 million for the quarter, compared to the consensus estimate of $616.63 million. During the same quarter last year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts predict that SM Energy will post 7.08 EPS for the current year.

SM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, October 25th. This is a positive change from SM Energy’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 2.01%. SM Energy’s payout ratio is currently 11.29%.

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.