Redwood Wealth Management Group LLC Invests $643,000 in SM Energy Company $SM

Redwood Wealth Management Group LLC bought a new position in SM Energy Company (NYSE:SM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,609 shares of the energy company’s stock, valued at approximately $643,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lighthouse Investment Partners LLC purchased a new position in shares of SM Energy in the third quarter worth about $4,619,000. Dynamic Technology Lab Private Ltd purchased a new stake in SM Energy during the 3rd quarter valued at about $1,190,000. Mitsubishi UFJ Trust & Banking Corp grew its position in SM Energy by 96.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 114,609 shares of the energy company’s stock worth $2,143,000 after acquiring an additional 56,160 shares during the last quarter. Denali Advisors LLC grew its position in SM Energy by 22.2% during the 4th quarter. Denali Advisors LLC now owns 300,000 shares of the energy company’s stock worth $5,610,000 after acquiring an additional 54,428 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its stake in SM Energy by 70.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 574,107 shares of the energy company’s stock worth $14,335,000 after purchasing an additional 237,537 shares during the period. 94.56% of the stock is currently owned by institutional investors.

SM Energy Price Performance

Shares of NYSE SM opened at $26.13 on Wednesday. The company has a 50 day simple moving average of $30.32 and a two-hundred day simple moving average of $25.54. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $35.88. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 10.98 and a beta of 0.72. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.42. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. The business’s revenue for the quarter was up 75.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 earnings per share. Analysts expect that SM Energy Company will post 7.3 EPS for the current fiscal year.

SM Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.4%. SM Energy’s payout ratio is currently 36.97%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SM. Raymond James Financial raised shares of SM Energy from an “underperform” rating to an “outperform” rating and set a $55.00 price target on the stock in a report on Wednesday, May 20th. BMO Capital Markets upped their price objective on shares of SM Energy from $26.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, April 2nd. National Bank Financial set a $30.00 target price on shares of SM Energy in a report on Tuesday, March 17th. KeyCorp raised their target price on SM Energy from $29.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Roth Mkm upgraded SM Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $32.00 in a report on Monday, June 22nd. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity

In related news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction 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 sale, the director directly owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This trade represents a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.45% of the stock is currently owned by insiders.

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.