South Dakota Investment Council Purchases Shares of 109,758 SM Energy Company $SM

South Dakota Investment Council acquired a new position in SM Energy Company (NYSE:SM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 109,758 shares of the energy company’s stock, valued at approximately $3,422,000.

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

SM Energy Trading Down 0.3%

Shares of SM opened at $31.61 on Friday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $35.88. The stock has a market cap of $7.58 billion, a PE ratio of 13.28 and a beta of 0.73. The firm’s fifty day moving average is $29.98 and its two-hundred day moving average is $27.27. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.98.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. SM Energy’s quarterly revenue was up 75.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 earnings per share. Research analysts forecast that SM Energy Company will post 6.95 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 8th. SM Energy’s dividend payout ratio (DPR) is currently 36.97%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SM shares. UBS Group initiated coverage on SM Energy in a research report on Tuesday, July 14th. They set a “buy” rating and a $36.00 price target on the stock. Mizuho cut their price target on shares of SM Energy from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Wells Fargo & Company increased their price objective on shares of SM Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, May 18th. BMO Capital Markets upped their price target on shares of SM Energy from $26.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, April 2nd. Finally, Stephens decreased their price target on shares of SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, SM Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.53.

Insider Buying and Selling

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the business’s 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 transaction, the director owned 65,964 shares of the company’s stock, valued at approximately $2,241,456.72. The trade was a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a filing 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.