Dockside LLC Buys Shares of 103,036 SM Energy Company $SM

Dockside LLC bought a new position in shares of SM Energy Company (NYSE:SM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,036 shares of the energy company’s stock, valued at approximately $2,689,000.

A number of other large investors also recently modified their holdings of SM. Dimensional Fund Advisors LP boosted its holdings in shares of SM Energy by 79.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock valued at $311,678,000 after buying an additional 4,426,751 shares during the period. Millennium Management LLC raised its stake in SM Energy by 205.1% during the fourth quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock worth $53,028,000 after acquiring an additional 1,906,255 shares during the period. Alyeska Investment Group L.P. raised its stake in SM Energy by 268.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,271,757 shares of the energy company’s stock worth $42,482,000 after acquiring an additional 1,654,891 shares during the period. Woodline Partners LP lifted its holdings in SM Energy by 198.9% in the third quarter. Woodline Partners LP now owns 2,429,518 shares of the energy company’s stock worth $60,665,000 after acquiring an additional 1,616,822 shares during the last quarter. Finally, Sagefield Capital LP bought a new position in SM Energy in the fourth quarter worth about $20,275,000. 94.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SM Energy

In other news, Director Ramiro G. Peru sold 24,553 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was 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 $2,241,456.72. This represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.45% of the stock is currently owned by company insiders.

SM Energy Price Performance

Shares of NYSE:SM opened at $33.70 on Friday. The firm’s 50 day moving average is $29.72 and its two-hundred day moving average is $28.20. SM Energy Company has a 52 week low of $17.45 and a 52 week high of $35.88. The firm has a market capitalization of $8.02 billion, a P/E ratio of 6.63 and a beta of 0.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The firm’s quarterly revenue was up 215.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. Analysts anticipate that SM Energy Company will post 7.1 earnings per share for the current year.

SM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, June 8th. SM Energy’s payout ratio is currently 17.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SM shares. Mizuho raised SM Energy to a “strong-buy” rating in a report on Friday, July 31st. Roth Capital upgraded SM Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $32.00 in a research report on Monday, June 22nd. Truist Financial upped their price objective on SM Energy from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James Financial dropped their target price on SM Energy from $55.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. Finally, UBS Group started coverage on SM Energy in a research note on Tuesday, July 14th. They issued a “buy” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.93.

About SM Energy

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.