Donald Smith & CO. Inc. Makes New Investment in SM Energy Company $SM

Donald Smith & CO. Inc. bought a new position in SM Energy Company (NYSE:SM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,647,594 shares of the energy company’s stock, valued at approximately $199,602,000. SM Energy comprises about 3.5% of Donald Smith & CO. Inc.’s portfolio, making the stock its 9th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of SM Energy by 27.7% in the 1st quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock worth $2,753,000 after purchasing an additional 19,965 shares during the last quarter. AQR Capital Management LLC boosted its stake in SM Energy by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock worth $4,370,000 after purchasing an additional 44,542 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SM Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock valued at $2,040,000 after purchasing an additional 2,969 shares during the last quarter. NewEdge Advisors LLC grew its position in SM Energy by 44.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock valued at $97,000 after purchasing an additional 1,007 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in SM Energy during the 1st quarter valued at about $222,000. 94.56% of the stock is currently owned by institutional investors.

SM Energy Stock Performance

Shares of SM opened at $37.34 on Friday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 7.35 and a beta of 0.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.62 and a quick ratio of 0.62. SM Energy Company has a one year low of $17.45 and a one year high of $38.25. The business has a fifty day moving average of $30.18 and a 200 day moving average of $28.80.

SM Energy (NYSE:SM) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.23. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.02 billion. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.SM Energy’s revenue was up 215.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. As a group, sell-side analysts anticipate that SM Energy Company will post 7.36 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on SM shares. UBS Group initiated coverage on shares of SM Energy in a report on Tuesday, July 14th. They issued a “buy” rating and a $36.00 target price for the company. Mizuho upgraded shares of SM Energy to a “strong-buy” rating in a report on Friday, July 31st. Stephens reduced their price target on shares of SM Energy from $61.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Zacks Research lowered shares of SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $41.00 in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.93.

SM Energy Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.