PNC Financial Services Group Inc. Trims Stock Position in SM Energy (NYSE:SM)

PNC Financial Services Group Inc. trimmed its stake in SM Energy (NYSE:SM) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,812 shares of the energy company’s stock after selling 1,322 shares during the period. PNC Financial Services Group Inc.’s holdings in SM Energy were worth $768,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Barclays PLC lifted its holdings in SM Energy by 47.3% in the third quarter. Barclays PLC now owns 250,218 shares of the energy company’s stock worth $10,002,000 after buying an additional 80,343 shares during the period. National Bank of Canada FI purchased a new stake in SM Energy in the third quarter worth $259,000. World Investment Advisors LLC bought a new position in SM Energy in the third quarter worth $3,048,000. Pekin Hardy Strauss Inc. lifted its position in SM Energy by 7.3% during the third quarter. Pekin Hardy Strauss Inc. now owns 178,750 shares of the energy company’s stock valued at $7,145,000 after buying an additional 12,102 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of SM Energy by 267.4% in the 3rd quarter. Townsquare Capital LLC now owns 391,107 shares of the energy company’s stock worth $15,633,000 after acquiring an additional 284,665 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.

Insider Buying and Selling

In related news, Director Barton R. Brookman, Jr. bought 7,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $32.36 per share, with a total value of $226,520.00. Following the purchase, the director now directly owns 14,666 shares of the company’s stock, valued at $474,591.76. This trade represents a 91.31 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SM shares. StockNews.com cut shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company dropped their target price on SM Energy from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Mizuho lowered their price target on SM Energy from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Truist Financial raised their price objective on shares of SM Energy from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Williams Trading set a $41.00 price target on shares of SM Energy in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

SM Energy Trading Up 0.8 %

NYSE SM opened at $30.23 on Tuesday. The company has a 50 day moving average price of $36.98 and a 200 day moving average price of $40.11. The firm has a market cap of $3.46 billion, a PE ratio of 4.53 and a beta of 4.14. The company has a quick ratio of 3.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.66. SM Energy has a 52 week low of $26.66 and a 52 week high of $53.26.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). The firm had revenue of $852.22 million during the quarter, compared to analyst estimates of $849.44 million. SM Energy had a net margin of 28.63% and a return on equity of 19.82%. As a group, sell-side analysts forecast that SM Energy will post 8.1 EPS for the current fiscal year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 24th were given a $0.20 dividend. The ex-dividend date was Friday, January 24th. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. SM Energy’s dividend payout ratio (DPR) is 11.98%.

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.