Glenmede Trust Co. NA Buys 147,569 Shares of SM Energy Company $SM

Glenmede Trust Co. NA raised its stake in shares of SM Energy Company (NYSE:SM) by 32.8% during the 1st quarter, HoldingsChannel reports. The firm owned 597,420 shares of the energy company’s stock after purchasing an additional 147,569 shares during the quarter. Glenmede Trust Co. NA’s holdings in SM Energy were worth $18,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SM. Dimensional Fund Advisors LP lifted 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 buying an additional 4,426,751 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of SM Energy by 205.1% during the 4th quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock worth $53,028,000 after buying an additional 1,906,255 shares during the period. Alyeska Investment Group L.P. grew its stake in SM Energy by 268.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,271,757 shares of the energy company’s stock valued at $42,482,000 after buying an additional 1,654,891 shares during the last quarter. Woodline Partners LP grew its stake in SM Energy by 198.9% in the 3rd quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company’s stock valued at $60,665,000 after buying an additional 1,616,822 shares during the last quarter. Finally, Sagefield Capital LP acquired a new position in SM Energy in the 4th quarter valued at $20,275,000. Institutional investors own 94.56% of the company’s stock.

SM Energy Trading Up 2.5%

Shares of SM stock opened at $32.42 on Friday. SM Energy Company has a 1 year low of $17.45 and a 1 year high of $35.88. The firm’s fifty day simple moving average is $29.96 and its 200 day simple moving average is $27.30. The firm has a market capitalization of $7.77 billion, a P/E ratio of 13.62 and a beta of 0.73. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.42. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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 was up 75.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 EPS. As a group, sell-side analysts predict that SM Energy Company will post 6.95 EPS for the current year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. SM Energy’s dividend payout ratio is currently 36.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SM shares. Weiss Ratings raised shares of SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Truist Financial lowered their price target on SM Energy from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Zacks Research lowered SM Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Wall Street Zen raised SM Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Mizuho decreased their target price on SM Energy from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.53.

Insider Activity at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $33.98, for a total value of $834,310.94. Following the completion of the sale, the director owned 65,964 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

SM Energy 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.