Readystate Asset Management LP Buys 166,208 Shares of SM Energy Company $SM

Readystate Asset Management LP lifted its stake in SM Energy Company (NYSE:SM) by 293.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,880 shares of the energy company’s stock after purchasing an additional 166,208 shares during the quarter. Readystate Asset Management LP owned 0.09% of SM Energy worth $5,817,000 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 the company. BlackRock Inc. purchased a new stake in SM Energy during the 2nd quarter valued at $1,025,229,000. Canada Pension Plan Investment Board bought a new stake in shares of SM Energy in the 2nd quarter worth $378,288,000. Donald Smith & CO. Inc. purchased a new position in shares of SM Energy in the second quarter worth $199,602,000. Dimensional Fund Advisors LP raised its stake in shares of SM Energy by 79.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock worth $311,678,000 after purchasing an additional 4,426,751 shares during the last quarter. Finally, Webs Creek Capital Management LP bought a new position in shares of SM Energy during the second quarter valued at $53,257,807. Institutional investors own 94.56% of the company’s stock.

Analyst Ratings Changes

SM has been the topic of several recent analyst reports. Wells Fargo & Company raised SM Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $47.00 in a research report on Thursday, August 13th. Seaport Research Partners started coverage on SM Energy in a research report on Thursday. They issued a “sell” rating and a $35.00 target price for the company. Wall Street Zen cut shares of SM Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Roth Capital raised shares of SM Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $30.00 to $32.00 in a report on Monday, June 22nd. Finally, Siebert Williams Shank upgraded shares of SM Energy from a “hold” rating to a “buy” rating and lifted their price target 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 issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.93.

SM Energy Stock Up 0.2%

SM Energy stock opened at $36.51 on Monday. SM Energy Company has a one year low of $17.45 and a one year high of $38.94. The stock has a fifty day moving average of $32.09 and a 200 day moving average of $30.00. 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 has a market cap of $8.68 billion, a PE ratio of 7.19 and a beta of 0.75.

SM Energy (NYSE:SM) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm posted $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, sell-side analysts predict that SM Energy Company will post 7.48 EPS for the current year.

SM Energy Announces Dividend

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

Insider Buying and Selling

In other news, EVP James Barker Lebeck sold 17,500 shares of SM Energy stock in a transaction on Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the transaction, the executive vice president owned 14,705 shares in the company, valued at $544,379.10. This trade represents a 54.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.