Allspring Global Investments Holdings LLC Has $21.81 Million Stock Holdings in SM Energy (NYSE:SM)

Allspring Global Investments Holdings LLC cut its holdings in SM Energy (NYSE:SM) by 20.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 545,586 shares of the energy company’s stock after selling 138,865 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SM Energy were worth $21,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SM. Register Financial Advisors LLC bought a new position in SM Energy in the first quarter valued at about $25,000. Plato Investment Management Ltd boosted its holdings in SM Energy by 461.9% in the second 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 during the last quarter. Hexagon Capital Partners LLC boosted its holdings in SM Energy by 509.7% in the first 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 last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in SM Energy by 63.9% in the second 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 last quarter. Finally, Mather Group LLC. bought a new position in SM Energy in the second quarter valued at about $44,000. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SM has been the topic of several recent research reports. Truist Financial decreased their price target on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Stephens restated an “overweight” rating and set a $63.00 target price on shares of SM Energy in a report on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 target price on shares of SM Energy in a report on Tuesday, October 8th. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, StockNews.com cut SM Energy from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Six 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. According to data from MarketBeat.com, SM Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.73.

SM Energy Stock Up 1.7 %

Shares of SM Energy stock opened at $42.71 on Friday. The business’s 50 day simple moving average is $42.78 and its 200 day simple moving average is $45.70. SM Energy has a 52-week low of $34.13 and a 52-week high of $53.26. The firm has a market cap of $4.91 billion, a PE ratio of 6.69 and a beta of 4.18. 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 (NYSE:SM) last announced its 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 return on equity of 21.01% and a net margin of 33.18%. The business had revenue of $634.56 million for the quarter, compared to analyst estimates of $616.63 million. During the same quarter last year, the firm earned $1.28 EPS. SM Energy’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, analysts predict that SM Energy will post 6.96 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, October 25th. This is a positive change from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s dividend payout ratio (DPR) is currently 12.54%.

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.