SM Energy (NYSE:SM) Position Boosted by Fmr LLC

Fmr LLC raised its holdings in shares of SM Energy (NYSE:SM) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 339,791 shares of the energy company’s stock after purchasing an additional 2,644 shares during the period. Fmr LLC’s holdings in SM Energy were worth $13,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SM. Diversified Trust Co grew its stake in SM Energy by 10.1% during the 2nd quarter. Diversified Trust Co now owns 18,094 shares of the energy company’s stock valued at $782,000 after acquiring an additional 1,658 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of SM Energy by 2.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,045 shares of the energy company’s stock valued at $477,000 after buying an additional 300 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of SM Energy by 4.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock valued at $25,646,000 after buying an additional 27,405 shares during the last quarter. Ellsworth Advisors LLC lifted its holdings in shares of SM Energy by 7.3% during the 2nd quarter. Ellsworth Advisors LLC now owns 10,422 shares of the energy company’s stock valued at $451,000 after buying an additional 705 shares during the last quarter. Finally, Summit Global Investments acquired a new stake in shares of SM Energy during the 2nd quarter valued at about $509,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Analysts Set New Price Targets

SM has been the subject of several research reports. Stephens lifted their price target on SM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of SM Energy in a report on Tuesday, October 8th. TD Cowen upgraded SM Energy from a “hold” rating to a “buy” rating and reduced their price target for the company from $64.00 to $60.00 in a report on Tuesday, October 15th. StockNews.com lowered SM Energy from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Mizuho reduced their target price on SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Seven 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

SM Energy Stock Down 0.7 %

Shares of SM stock opened at $40.40 on Wednesday. SM Energy has a 12 month low of $34.13 and a 12 month high of $53.26. The firm has a market cap of $4.62 billion, a PE ratio of 5.64 and a beta of 4.15. The stock has a 50 day moving average of $43.36 and a 200-day moving average of $44.14. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.67.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. The business had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $643.67 million. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. SM Energy’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $1.73 earnings per share. On average, equities analysts predict that SM Energy will post 6.77 EPS for the current year.

SM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a dividend of $0.20 per share. The ex-dividend date was Friday, October 25th. This is a boost from SM Energy’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.98%. SM Energy’s payout ratio is currently 11.17%.

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.