Edgestream Partners L.P. Reduces Stock Holdings in SM Energy (NYSE:SM)

Edgestream Partners L.P. lessened its holdings in shares of SM Energy (NYSE:SM) by 62.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,736 shares of the energy company’s stock after selling 60,012 shares during the period. Edgestream Partners L.P.’s holdings in SM Energy were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SM. Westwood Holdings Group Inc. purchased a new position in shares of SM Energy during the 4th quarter valued at about $50,075,000. Jupiter Asset Management Ltd. raised its position in SM Energy by 929.6% during the second quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock valued at $50,125,000 after acquiring an additional 1,046,872 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in SM Energy by 848.7% in the fourth quarter. Congress Asset Management Co. MA now owns 877,739 shares of the energy company’s stock valued at $33,986,000 after acquiring an additional 785,222 shares during the period. Dimensional Fund Advisors LP boosted its position in SM Energy by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock worth $274,161,000 after purchasing an additional 384,675 shares in the last quarter. Finally, SIR Capital Management L.P. grew its stake in shares of SM Energy by 144.7% during the 2nd quarter. SIR Capital Management L.P. now owns 457,854 shares of the energy company’s stock worth $19,793,000 after purchasing an additional 270,754 shares during the period. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SM. JPMorgan Chase & Co. decreased their target price on shares of SM Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Stephens restated an “overweight” rating and issued a $63.00 price target on shares of SM Energy in a research note on Thursday, June 27th. Truist Financial lowered their price target on SM Energy from $49.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Finally, Mizuho cut their price objective on SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.22.

SM Energy Stock Up 1.3 %

Shares of SM opened at $41.49 on Friday. The stock has a 50 day moving average price of $43.74 and a 200 day moving average price of $46.64. SM Energy has a one year low of $34.13 and a one year high of $53.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 6.50 and a beta of 4.19.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The business had revenue of $634.56 million during the quarter, compared to analyst estimates of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Equities research analysts forecast that SM Energy will post 7.57 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Friday, July 19th. SM Energy’s dividend payout ratio (DPR) is 11.29%.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.