Citigroup Inc. Cuts Holdings in SM Energy (NYSE:SM)

Citigroup Inc. lessened its stake in SM Energy (NYSE:SM) by 14.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 235,084 shares of the energy company’s stock after selling 38,712 shares during the quarter. Citigroup Inc.’s holdings in SM Energy were worth $9,396,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SM. Plato Investment Management Ltd raised 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 in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of SM Energy in the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV lifted its position in shares of SM Energy by 63.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock worth $38,000 after purchasing an additional 340 shares during the last quarter. Mather Group LLC. acquired a new position in shares of SM Energy during the second quarter worth $44,000. Finally, Blue Trust Inc. increased its holdings in SM Energy by 3,434.5% in the third quarter. Blue Trust Inc. now owns 1,025 shares of the energy company’s stock valued at $44,000 after buying an additional 996 shares during the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.

SM Energy Stock Up 0.8 %

Shares of SM Energy stock opened at $45.19 on Friday. SM Energy has a one year low of $34.13 and a one year high of $53.26. The company has a market cap of $5.17 billion, a P/E ratio of 6.29 and a beta of 4.18. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a fifty day moving average of $43.11 and a two-hundred day moving average of $44.56.

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

SM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, October 25th. SM Energy’s dividend payout ratio is 11.17%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SM. Tudor Pickering raised SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. KeyCorp lowered their price target on SM Energy from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stephens increased their price target on shares of SM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of SM Energy from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price target on shares of SM Energy from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.09.

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.