Archer Investment Corp Increases Position in SM Energy (NYSE:SM)

Archer Investment Corp increased its stake in SM Energy (NYSE:SM) by 9,650.0% during the second quarter, HoldingsChannel reports. The firm owned 1,950 shares of the energy company’s stock after acquiring an additional 1,930 shares during the period. Archer Investment Corp’s holdings in SM Energy were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of SM. Register Financial Advisors LLC bought a new stake in SM Energy during the 1st quarter valued at $25,000. Hexagon Capital Partners LLC raised its holdings in SM Energy by 509.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after acquiring an additional 474 shares during the period. Lindbrook Capital LLC raised its holdings in SM Energy by 54.9% during the 1st quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock valued at $29,000 after acquiring an additional 206 shares during the period. Global Retirement Partners LLC raised its holdings in SM Energy by 665.6% during the 1st quarter. Global Retirement Partners LLC now owns 689 shares of the energy company’s stock valued at $34,000 after acquiring an additional 599 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in SM Energy by 63.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock valued at $38,000 after acquiring an additional 340 shares during the period. Institutional investors own 94.56% of the company’s stock.

SM Energy Price Performance

Shares of SM opened at $41.78 on Thursday. The stock has a market cap of $4.80 billion, a PE ratio of 6.55 and a beta of 4.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26. The firm’s 50-day simple moving average is $44.58 and its two-hundred day simple moving average is $46.76.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, topping 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 business had revenue of $634.56 million for the quarter, compared to analysts’ expectations of $616.63 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. Analysts anticipate that SM Energy will post 7.57 earnings per share for the current fiscal year.

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 19th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Friday, July 19th. SM Energy’s dividend payout ratio is currently 11.29%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Truist Financial reduced their price target on shares of SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Tudor, Pickering, Holt & Co. upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company reduced their price target on shares of SM Energy from $50.00 to $48.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Finally, Stephens restated an “overweight” rating and set a $63.00 price target on shares of SM Energy in a research report on Thursday, June 27th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.22.

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.