Kingsview Wealth Management LLC Buys New Holdings in SM Energy Company $SM

Kingsview Wealth Management LLC purchased a new position in SM Energy Company (NYSE:SM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 124,537 shares of the energy company’s stock, valued at approximately $3,250,000. Kingsview Wealth Management LLC owned approximately 0.05% of SM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SM. BlackRock Inc. bought a new position in shares of SM Energy in the 2nd quarter worth $1,025,229,000. Canada Pension Plan Investment Board acquired a new position in SM Energy during the second quarter worth $378,288,000. Dimensional Fund Advisors LP raised its holdings in SM Energy by 79.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock worth $311,678,000 after buying an additional 4,426,751 shares during the last quarter. Donald Smith & CO. Inc. bought a new position in shares of SM Energy in the second quarter valued at $199,602,000. Finally, State Street Corp lifted its stake in shares of SM Energy by 1.7% in the fourth quarter. State Street Corp now owns 6,257,360 shares of the energy company’s stock valued at $118,267,000 after buying an additional 107,295 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insiders Place Their Bets

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of the business’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 $544,379.10. The trade was a 54.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.45% of the stock is currently owned by insiders.

SM Energy Trading Down 0.6%

Shares of SM Energy stock opened at $36.59 on Friday. SM Energy Company has a 1 year low of $17.45 and a 1 year high of $38.25. The firm has a market cap of $8.70 billion, a PE ratio of 7.20 and a beta of 0.73. The stock has a fifty day moving average price of $31.02 and a 200-day moving average price of $29.37. 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 (NYSE:SM) last released its earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The business’s revenue for the quarter was up 215.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. Equities research analysts anticipate that SM Energy Company will post 7.45 EPS for the current year.

SM Energy Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SM shares. Susquehanna lifted their price objective on shares of SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Truist Financial raised their price target on shares of SM Energy from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Raymond James Financial cut their price target on SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. UBS Group started coverage on SM Energy in a report on Tuesday, July 14th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $41.00 in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.93.

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.