Great West Life Assurance Co. Can held its stake in SM Energy Co. (NYSE:SM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,522 shares of the energy company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in SM Energy were worth $122,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. raised its position in shares of SM Energy by 208.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,236,903 shares of the energy company’s stock worth $23,180,000 after buying an additional 836,534 shares during the last quarter. HBK Investments L P raised its position in shares of SM Energy by 560.3% in the first quarter. HBK Investments L P now owns 876,907 shares of the energy company’s stock worth $16,433,000 after buying an additional 744,107 shares during the last quarter. Norges Bank bought a new position in shares of SM Energy during the fourth quarter worth approximately $12,696,000. Frontier Capital Management Co. LLC bought a new position in shares of SM Energy during the second quarter worth approximately $14,044,000. Finally, Prudential Financial Inc. raised its position in shares of SM Energy by 358.4% in the first quarter. Prudential Financial Inc. now owns 660,030 shares of the energy company’s stock worth $12,369,000 after buying an additional 516,040 shares during the last quarter. 82.89% of the stock is currently owned by institutional investors and hedge funds.
SM Energy Co. (NYSE:SM) traded down 4.118% during mid-day trading on Tuesday, reaching $32.715. 2,481,192 shares of the company’s stock were exchanged. The company’s 50-day moving average is $35.49 and its 200 day moving average is $28.65. The firm’s market capitalization is $2.24 billion. SM Energy Co. has a one year low of $6.99 and a one year high of $42.23.
SM Energy (NYSE:SM) last issued its earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.27. The firm earned $341.80 million during the quarter, compared to analyst estimates of $328.18 million. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The business’s revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. Equities analysts predict that SM Energy Co. will post ($2.38) earnings per share for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be paid a $0.05 dividend. This represents a yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s dividend payout ratio (DPR) is presently -0.80%.
A number of brokerages have recently issued reports on SM. Deutsche Bank AG upped their price objective on shares of SM Energy from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Tuesday, June 14th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $24.00 price objective on shares of SM Energy in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of SM Energy from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, July 12th. Barclays PLC upped their price objective on shares of SM Energy from $32.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Finally, KLR Group raised shares of SM Energy from an “accumulate” rating to a “buy” rating and upped their price objective for the company from $37.00 to $43.00 in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. SM Energy has a consensus rating of “Hold” and an average price target of $32.07.
About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States.
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