International Assets Investment Management LLC Boosts Stock Position in SM Energy (NYSE:SM)

International Assets Investment Management LLC lifted its position in shares of SM Energy (NYSE:SM) by 3,897.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,439 shares of the energy company’s stock after purchasing an additional 1,403 shares during the period. International Assets Investment Management LLC’s holdings in SM Energy were worth $58,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in SM Energy by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock worth $274,161,000 after buying an additional 384,675 shares in the last quarter. American Century Companies Inc. raised its stake in SM Energy by 1.2% in the second quarter. American Century Companies Inc. now owns 2,361,149 shares of the energy company’s stock worth $102,072,000 after buying an additional 28,005 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in SM Energy by 10.2% in the second quarter. Westwood Holdings Group Inc. now owns 1,709,927 shares of the energy company’s stock worth $73,920,000 after buying an additional 157,923 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SM Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,335,624 shares of the energy company’s stock worth $57,739,000 after buying an additional 4,611 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in SM Energy by 929.6% in the second quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock worth $50,125,000 after buying an additional 1,046,872 shares in the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Price Performance

Shares of SM opened at $43.28 on Friday. The company has a market capitalization of $4.95 billion, a P/E ratio of 6.04 and a beta of 4.18. The company has a quick ratio of 1.29, a current ratio of 3.52 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $42.09 and a 200 day moving average of $45.12. SM Energy has a twelve month low of $34.13 and a twelve month high of $53.26.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $643.67 million. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. As a group, equities research analysts anticipate that SM Energy will post 6.84 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.80 annualized dividend and a yield of 1.85%. This is a boost from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s dividend payout ratio (DPR) is currently 11.17%.

Analysts Set New Price Targets

SM has been the subject of a number of research reports. Mizuho decreased their price target on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. 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. Truist Financial decreased their target price on shares of SM Energy from $46.00 to $38.00 and set a “hold” rating for the company in a research note on Monday, September 30th. KeyCorp decreased their target price on shares of SM Energy from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of SM Energy from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.73.

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.