Proficio Capital Partners LLC Invests $256,000 in SM Energy (NYSE:SM)

Proficio Capital Partners LLC purchased a new stake in shares of SM Energy (NYSE:SM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,606 shares of the energy company’s stock, valued at approximately $256,000.

Several other hedge funds have also modified their holdings of SM. Victory Capital Management Inc. increased its position in SM Energy by 13.8% in the fourth quarter. Victory Capital Management Inc. now owns 116,413 shares of the energy company’s stock worth $4,512,000 after purchasing an additional 14,089 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of SM Energy by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,255,841 shares of the energy company’s stock worth $48,676,000 after buying an additional 32,803 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of SM Energy by 517.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,140 shares of the energy company’s stock valued at $159,000 after buying an additional 3,470 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of SM Energy by 214.7% in the 4th quarter. Fisher Asset Management LLC now owns 519,302 shares of the energy company’s stock valued at $20,128,000 after acquiring an additional 354,297 shares during the last quarter. Finally, Denali Advisors LLC purchased a new position in SM Energy in the fourth quarter worth about $4,362,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Price Performance

Shares of SM stock opened at $30.80 on Thursday. The company has a market capitalization of $3.52 billion, a P/E ratio of 4.61 and a beta of 4.14. The company’s 50-day simple moving average is $35.23 and its two-hundred day simple moving average is $39.54. SM Energy has a one year low of $26.66 and a one year high of $53.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.55 and a quick ratio of 3.52.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Wednesday, February 19th. The energy company reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.09). The firm had revenue of $852.22 million during the quarter, compared to the consensus estimate of $849.44 million. SM Energy had a return on equity of 19.82% and a net margin of 28.63%. As a group, equities analysts anticipate that SM Energy will post 8.1 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on SM. Williams Trading set a $41.00 price objective on SM Energy in a research report on Wednesday, March 5th. StockNews.com lowered SM Energy from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $57.00 price objective on shares of SM Energy in a research note on Thursday, January 2nd. Mizuho reduced their target price on shares of SM Energy from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Truist Financial lifted their price target on shares of SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Insider Activity

In other SM Energy news, Director Barton R. Brookman, Jr. acquired 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average cost of $32.36 per share, with a total value of $226,520.00. Following the completion of the acquisition, the director now directly owns 14,666 shares in the company, valued at $474,591.76. This represents a 91.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

SM Energy 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.