Summit Global Investments Invests $447,000 in SM Energy Company $SM

Summit Global Investments bought a new stake in shares of SM Energy Company (NYSE:SM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,114 shares of the energy company’s stock, valued at approximately $447,000.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in SM Energy by 27.7% in the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock worth $2,753,000 after acquiring an additional 19,965 shares during the period. AQR Capital Management LLC increased its position in SM Energy by 43.9% during the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock valued at $4,370,000 after purchasing an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in SM Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock worth $2,040,000 after purchasing an additional 2,969 shares in the last quarter. NewEdge Advisors LLC raised its holdings in SM Energy by 44.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after purchasing an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association bought a new position in SM Energy in the 1st quarter worth $222,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ramiro G. Peru sold 24,553 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the completion of the transaction, the director owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This trade represents a 27.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Roth Capital raised shares of SM Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $32.00 in a research note on Monday, June 22nd. Raymond James Financial decreased their price target on shares of SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.93.

SM Energy Trading Up 4.0%

NYSE:SM opened at $33.70 on Friday. The firm has a market capitalization of $8.02 billion, a P/E ratio of 6.63 and a beta of 0.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. SM Energy Company has a one year low of $17.45 and a one year high of $35.88. The company’s 50-day simple moving average is $29.72 and its 200 day simple moving average is $28.20.

SM Energy (NYSE:SM) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm earned $1.50 earnings per share. The business’s revenue for the quarter was up 215.3% on a year-over-year basis. As a group, analysts forecast that SM Energy Company will post 7.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, June 8th. SM Energy’s dividend payout ratio (DPR) is 17.32%.

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.