Envestnet Asset Management Inc. Purchases 75,754 Shares of SM Energy (NYSE:SM)

Envestnet Asset Management Inc. grew its position in shares of SM Energy (NYSE:SM) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 566,099 shares of the energy company’s stock after purchasing an additional 75,754 shares during the period. Envestnet Asset Management Inc. owned about 0.49% of SM Energy worth $24,472,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. purchased a new position in shares of SM Energy in the first quarter worth about $5,614,000. Foundry Partners LLC increased its holdings in shares of SM Energy by 1,733.5% in the first quarter. Foundry Partners LLC now owns 102,307 shares of the energy company’s stock worth $5,100,000 after buying an additional 96,727 shares during the period. SG Americas Securities LLC purchased a new position in shares of SM Energy in the first quarter worth about $710,000. Rafferty Asset Management LLC increased its holdings in shares of SM Energy by 11.9% in the fourth quarter. Rafferty Asset Management LLC now owns 198,380 shares of the energy company’s stock worth $7,681,000 after buying an additional 21,102 shares during the period. Finally, Wedge Capital Management L L P NC increased its holdings in shares of SM Energy by 4.8% in the second quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock worth $25,646,000 after buying an additional 27,405 shares during the period. Institutional investors own 94.56% of the company’s stock.

SM Energy Stock Performance

SM Energy stock opened at $41.53 on Monday. The stock’s 50 day simple moving average is $43.60 and its two-hundred day simple moving average is $46.63. 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 cap of $4.78 billion, a price-to-earnings ratio of 6.51 and a beta of 4.18. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26.

SM Energy (NYSE:SM) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.28. The business had revenue of $634.56 million for the quarter, compared to analysts’ expectations of $616.63 million. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. As a group, analysts expect that SM Energy will post 7.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on SM. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. Stephens reiterated an “overweight” rating and issued a $63.00 price objective on shares of SM Energy in a report on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and set a $54.00 price target on shares of SM Energy in a report on Tuesday, July 9th. Truist Financial reduced their price target on SM Energy from $49.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. reduced their price target on SM Energy from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, SM Energy presently has an average rating of “Moderate Buy” and an average target price of $53.22.

About SM Energy

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.