SIR Capital Management L.P. Buys New Stake in SM Energy Company $SM

SIR Capital Management L.P. purchased a new position in SM Energy Company (NYSE:SM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 182,900 shares of the energy company’s stock, valued at approximately $4,774,000. SIR Capital Management L.P. owned about 0.08% of SM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SM. NBC Securities Inc. increased its holdings in shares of SM Energy by 160.5% in the 4th quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock worth $25,000 after buying an additional 830 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of SM Energy by 10,461.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock valued at $26,000 after acquiring an additional 1,360 shares during the last quarter. Torren Management LLC grew its position in SM Energy by 4,561.1% in the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock worth $26,000 after acquiring an additional 821 shares in the last quarter. Global Retirement Partners LLC grew its position in SM Energy by 62.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock worth $26,000 after acquiring an additional 535 shares in the last quarter. Finally, Kilter Group LLC bought a new stake in SM Energy during the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Trading Down 1.9%

SM opened at $36.48 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The stock’s 50 day moving average price is $30.34 and its 200-day moving average price is $28.99. SM Energy Company has a one year low of $17.45 and a one year high of $38.25. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 7.18 and a beta of 0.73.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.SM Energy’s quarterly revenue was up 215.3% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS. On average, equities analysts forecast that SM Energy Company will post 7.36 EPS for the current year.

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 4th. SM Energy’s payout ratio is currently 17.32%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SM. Stephens decreased their price objective on SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Susquehanna increased their price target on SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings restated a “hold (c)” rating on shares of SM Energy in a research report on Monday, August 17th. Siebert Williams Shank raised shares of SM Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $41.00 in a research note on Thursday, May 14th. Finally, Wells Fargo & Company raised shares of SM Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $32.00 to $47.00 in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, SM Energy presently has an average rating of “Moderate Buy” and a consensus target price of $37.93.

Insider Activity at SM Energy

In other news, EVP James Barker Lebeck sold 17,500 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the transaction, the executive vice president directly owned 14,705 shares in the company, valued at approximately $544,379.10. This represents a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

SM Energy Company 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.