Mackenzie Financial Corp Grows Position in SM Energy (NYSE:SM)

Mackenzie Financial Corp boosted its stake in SM Energy (NYSE:SM) by 82.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 411,103 shares of the energy company’s stock after buying an additional 185,433 shares during the quarter. Mackenzie Financial Corp owned approximately 0.36% of SM Energy worth $17,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SM. Westwood Holdings Group Inc. purchased a new stake in SM Energy in the 4th quarter valued at $50,075,000. Jupiter Asset Management Ltd. raised its position in SM Energy by 929.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock valued at $50,125,000 after buying an additional 1,046,872 shares during the last quarter. Congress Asset Management Co. MA raised its position in SM Energy by 848.7% in the 4th quarter. Congress Asset Management Co. MA now owns 877,739 shares of the energy company’s stock valued at $33,986,000 after buying an additional 785,222 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SM Energy by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock valued at $274,161,000 after buying an additional 384,675 shares during the last quarter. Finally, SIR Capital Management L.P. raised its position in SM Energy by 144.7% in the 2nd quarter. SIR Capital Management L.P. now owns 457,854 shares of the energy company’s stock valued at $19,793,000 after buying an additional 270,754 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SM. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. reduced their price objective on SM Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company reduced their price objective on SM Energy from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Truist Financial reduced their price objective on SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, StockNews.com downgraded SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Five 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 data from MarketBeat, SM Energy has an average rating of “Moderate Buy” and a consensus price target of $53.22.

SM Energy Stock Up 4.6 %

SM stock opened at $39.81 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 6.24 and a beta of 4.18. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26. The stock has a fifty day moving average of $43.00 and a 200-day moving average of $46.46.

SM Energy (NYSE:SM) last issued its quarterly earnings data 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 analysts’ expectations of $616.63 million. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 EPS. As a group, equities research analysts predict that SM Energy will post 7.08 earnings per share for the current year.

SM Energy Increases Dividend

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

About SM Energy

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.