16,958 Shares in SM Energy (NYSE:SM) Bought by Summit Global Investments

Summit Global Investments bought a new stake in shares of SM Energy (NYSE:SM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,958 shares of the energy company’s stock, valued at approximately $657,000.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of SM Energy by 11.3% during the 4th quarter. CWM LLC now owns 2,683 shares of the energy company’s stock valued at $104,000 after buying an additional 272 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of SM Energy by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,125 shares of the energy company’s stock valued at $779,000 after purchasing an additional 286 shares during the period. First Horizon Advisors Inc. increased its stake in shares of SM Energy by 31.6% during the fourth quarter. First Horizon Advisors Inc. now owns 1,469 shares of the energy company’s stock worth $57,000 after purchasing an additional 353 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of SM Energy by 59.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 990 shares of the energy company’s stock worth $39,000 after purchasing an additional 370 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of SM Energy by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 34,315 shares of the energy company’s stock worth $1,361,000 after purchasing an additional 464 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Price Performance

Shares of SM stock opened at $50.13 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $5.80 billion, a PE ratio of 7.86 and a beta of 4.21. The firm’s 50-day moving average is $48.24 and its two-hundred day moving average is $41.62. SM Energy has a 12 month low of $25.03 and a 12 month high of $53.26.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. The firm had revenue of $608.73 million for the quarter, compared to analyst estimates of $611.35 million. SM Energy had a net margin of 31.80% and a return on equity of 20.48%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS. Analysts predict that SM Energy will post 6.42 earnings per share for the current year.

SM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, April 18th. SM Energy’s dividend payout ratio is presently 11.29%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SM shares. Wells Fargo & Company lifted their price objective on SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Raymond James dropped their price target on SM Energy from $53.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, January 8th. Mizuho raised their price objective on SM Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday, April 5th. KeyCorp upped their target price on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, StockNews.com raised shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.57.

About SM Energy

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.