Sequoia Financial Advisors LLC Has $234,000 Stake in SM Energy (NYSE:SM)

Sequoia Financial Advisors LLC raised its holdings in SM Energy (NYSE:SM) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,843 shares of the energy company’s stock after purchasing an additional 380 shares during the period. Sequoia Financial Advisors LLC’s holdings in SM Energy were worth $234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jupiter Asset Management Ltd. bought a new position in shares of SM Energy in the first quarter worth $5,614,000. Foundry Partners LLC grew its stake in SM Energy by 1,733.5% during 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 in the last quarter. SG Americas Securities LLC bought a new position in SM Energy in the 1st quarter valued at about $710,000. Wedge Capital Management L L P NC raised its position in shares of SM Energy by 4.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock valued at $25,646,000 after buying an additional 27,405 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of SM Energy by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 764,118 shares of the energy company’s stock worth $38,093,000 after acquiring an additional 124,450 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.

Analysts Set New Price Targets

SM has been the topic of a number of recent analyst reports. TD Cowen raised shares of SM Energy from a “hold” rating to a “buy” rating and decreased their price objective for the company from $64.00 to $60.00 in a research note on Tuesday, October 15th. Wells Fargo & Company lowered their price target on SM Energy from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a research report on Wednesday, August 21st. Truist Financial decreased their target price on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Tudor, Pickering, Holt & Co. raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SM Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.73.

SM Energy Stock Performance

Shares of SM Energy stock opened at $41.81 on Wednesday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 6.55 and a beta of 4.18. SM Energy has a twelve month low of $34.13 and a twelve month high of $53.26. The company’s fifty day moving average is $42.62 and its 200 day moving average is $45.42. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The firm had revenue of $634.56 million for the quarter, compared to analyst estimates of $616.63 million. During the same quarter in the previous year, the company posted $1.28 EPS. The business’s revenue was up 15.2% on a year-over-year basis. Sell-side analysts forecast that SM Energy will post 7.06 EPS for the current year.

SM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.20 per share. This is a positive change from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.80 annualized dividend and a yield of 1.91%. SM Energy’s dividend payout ratio (DPR) is presently 12.54%.

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.