Northwestern Mutual Investment Management Company LLC held its stake in shares of SM Energy Co. (NYSE:SM) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,745 shares of the energy company’s stock at the end of the second quarter. Northwestern Mutual Investment Management Company LLC’s holdings in SM Energy were worth $317,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Mason Street Advisors LLC purchased a new stake in SM Energy during the second quarter worth approximately $838,000. Amalgamated Bank purchased a new stake in SM Energy during the second quarter worth approximately $277,000. Legal & General Group Plc raised its stake in SM Energy by 47.3% in the second quarter. Legal & General Group Plc now owns 92,181 shares of the energy company’s stock worth $2,487,000 after buying an additional 29,613 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in SM Energy by 3.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 63,925 shares of the energy company’s stock worth $1,726,000 after buying an additional 2,243 shares in the last quarter. Finally, Numeric Investors LLC purchased a new stake in SM Energy during the second quarter worth approximately $807,000. Hedge funds and other institutional investors own 82.89% of the company’s stock.
SM Energy Co. (NYSE:SM) opened at 34.12 on Tuesday. The stock’s market capitalization is $2.34 billion. The company has a 50 day moving average of $35.49 and a 200-day moving average of $28.65. SM Energy Co. has a 12-month low of $6.99 and a 12-month high of $42.23.
SM Energy (NYSE:SM) last announced its quarterly 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. SM Energy had a negative return on equity of 9.92% and a negative net margin of 73.55%. The company earned $341.80 million during the quarter, compared to the consensus estimate of $328.18 million. During the same period in the previous year, the company posted $0.49 earnings per share. SM Energy’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities research analysts forecast that SM Energy Co. will post ($2.38) earnings per share for the current year.
The business also recently declared a semiannual dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Friday, October 21st will be issued a $0.05 dividend. This represents a yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s payout ratio is presently -0.80%.
A number of research firms recently commented on SM. Zacks Investment Research lowered shares of SM Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Seaport Global Securities upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $53.00 in a report on Tuesday, August 30th. Williams Capital initiated coverage on shares of SM Energy in a research report on Monday, August 29th. They issued a “buy” rating and a $57.00 target price on the stock. Citigroup Inc. raised shares of SM Energy to a “neutral” rating and upped their target price for the stock from $16.00 to $36.00 in a research report on Monday, August 22nd. Finally, Mitsubishi UFJ Financial Group raised shares of SM Energy from an “underweight” rating to a “neutral” rating and set a $36.00 target price on the stock in a research report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus 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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