Cetera Investment Advisers Has $1.04 Million Holdings in SM Energy (NYSE:SM)

Cetera Investment Advisers raised its position in SM Energy (NYSE:SM) by 7.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 24,032 shares of the energy company’s stock after acquiring an additional 1,718 shares during the period. Cetera Investment Advisers’ holdings in SM Energy were worth $1,039,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in SM Energy in the first quarter worth $25,000. Plato Investment Management Ltd raised its stake in shares of SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after buying an additional 485 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after buying an additional 474 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of SM Energy by 63.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock valued at $38,000 after buying an additional 340 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of SM Energy in the second quarter valued at $44,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on SM Energy from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lowered their target price on SM Energy from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a research note on Wednesday, August 21st. Truist Financial decreased their price objective on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Mizuho decreased their price objective on SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.73.

SM Energy Trading Up 1.9 %

Shares of SM stock opened at $43.52 on Friday. The stock has a market capitalization of $5.00 billion, a PE ratio of 6.82 and a beta of 4.18. SM Energy has a 1-year low of $34.13 and a 1-year high of $53.26. The business has a 50-day moving average of $43.02 and a 200 day moving average of $46.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

SM Energy (NYSE:SM) last issued its earnings results 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 company had revenue of $634.56 million during 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%. SM Energy’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. As a group, sell-side analysts anticipate that SM Energy will post 6.96 earnings per share for the current year.

SM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 25th. This is a boost from SM Energy’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.84%. SM Energy’s dividend payout ratio is currently 12.54%.

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.