Patten Group Inc. Acquires New Position in SM Energy Company $SM

Patten Group Inc. acquired a new position in SM Energy Company (NYSE:SM) in the fourth quarter, HoldingsChannel reports. The firm acquired 20,707 shares of the energy company’s stock, valued at approximately $387,000.

A number of other institutional investors also recently made changes to their positions in the business. First Horizon Corp bought a new stake in SM Energy in the third quarter worth $30,000. Jones Financial Companies Lllp grew its stake in shares of SM Energy by 316.7% during the third quarter. Jones Financial Companies Lllp now owns 1,200 shares of the energy company’s stock valued at $33,000 after buying an additional 912 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of SM Energy in the third quarter worth about $31,000. Hantz Financial Services Inc. increased its holdings in shares of SM Energy by 220.6% in the third quarter. Hantz Financial Services Inc. now owns 1,430 shares of the energy company’s stock worth $36,000 after buying an additional 984 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of SM Energy by 201.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,776 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,186 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Price Performance

SM opened at $27.67 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $6.63 billion, a PE ratio of 4.90 and a beta of 0.78. The stock’s 50 day moving average price is $25.98 and its 200-day moving average price is $22.05. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $33.25.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The company had revenue of $704.92 million during the quarter, compared to analyst estimates of $764.40 million. SM Energy had a return on equity of 13.47% and a net margin of 20.55%.The firm’s revenue was down 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.91 earnings per share. On average, equities research analysts predict that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from SM Energy’s previous quarterly dividend of $0.20. SM Energy’s payout ratio is presently 15.58%.

Wall Street Analyst Weigh In

SM has been the subject of several analyst reports. National Bank Financial set a $30.00 target price on SM Energy in a report on Tuesday, March 17th. Truist Financial assumed coverage on SM Energy in a research report on Tuesday, March 24th. They issued a “buy” rating and a $38.00 price objective for the company. Siebert Williams Shank lowered SM Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Stephens raised their target price on shares of SM Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Finally, Zacks Research upgraded shares of SM Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SM Energy presently has an average rating of “Moderate Buy” and a consensus target price of $33.31.

SM Energy Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.