Meeder Asset Management Inc. acquired a new position in shares of SM Energy Co (NYSE:SM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,204 shares of the energy company’s stock, valued at approximately $827,000.
Several other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its position in SM Energy by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 71,338 shares of the energy company’s stock valued at $1,833,000 after purchasing an additional 1,819 shares during the period. Radnor Capital Management LLC grew its position in SM Energy by 18.7% in the 3rd quarter. Radnor Capital Management LLC now owns 13,950 shares of the energy company’s stock valued at $440,000 after purchasing an additional 2,200 shares during the period. Aperio Group LLC grew its position in SM Energy by 4.7% in the 3rd quarter. Aperio Group LLC now owns 50,268 shares of the energy company’s stock valued at $1,585,000 after purchasing an additional 2,277 shares during the period. Russell Investments Group Ltd. grew its position in SM Energy by 50.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,685 shares of the energy company’s stock valued at $199,000 after purchasing an additional 2,570 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in SM Energy by 7.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 39,598 shares of the energy company’s stock valued at $1,017,000 after purchasing an additional 2,835 shares during the period.
SM has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of SM Energy from $32.00 to $36.00 and gave the company a “$26.55” rating in a research report on Monday, July 23rd. Williams Capital set a $44.00 price objective on SM Energy and gave the company a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research upgraded SM Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, October 9th. KLR Group restated a “buy” rating and set a $40.00 price objective on shares of SM Energy in a research note on Monday, August 20th. Finally, Stifel Nicolaus dropped their price objective on SM Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $32.31.
SM Energy (NYSE:SM) last released its earnings results on Thursday, November 1st. The energy company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.17). The business had revenue of $459.37 million for the quarter, compared to the consensus estimate of $429.63 million. SM Energy had a return on equity of 0.59% and a net margin of 8.56%. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. As a group, sell-side analysts forecast that SM Energy Co will post 0.3 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which was paid on Wednesday, November 7th. Stockholders of record on Friday, October 26th were paid a dividend of $0.05 per share. This represents a dividend yield of 0.31%. The ex-dividend date of this dividend was Thursday, October 25th. SM Energy’s payout ratio is -12.20%.
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SM Energy Company Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the Midland Basin and the Eagle Ford shale in Texas. As of December 31, 2017, the company had 468.1 million barrels of oil equivalent of estimated proved reserves; and working interests in 919 net productive oil wells and 489 net productive gas wells.
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