Canada Pension Plan Investment Board Invests $378.29 Million in SM Energy Company $SM

Canada Pension Plan Investment Board purchased a new position in shares of SM Energy Company (NYSE:SM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,493,791 shares of the energy company’s stock, valued at approximately $378,288,000. Canada Pension Plan Investment Board owned approximately 0.06% of SM Energy at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. raised its holdings in SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock worth $25,000 after purchasing an additional 830 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in SM Energy by 10,461.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock worth $26,000 after purchasing an additional 1,360 shares in the last quarter. Torren Management LLC grew its holdings in SM Energy by 4,561.1% in the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock valued at $26,000 after purchasing an additional 821 shares during the last quarter. Global Retirement Partners LLC grew its holdings in SM Energy by 62.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after purchasing an additional 535 shares during the last quarter. Finally, Kilter Group LLC purchased a new position in shares of SM Energy in the second quarter valued at $28,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Price Performance

Shares of NYSE:SM opened at $35.71 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The business’s fifty day moving average price is $30.49 and its two-hundred day moving average price is $29.10. The stock has a market cap of $8.49 billion, a PE ratio of 7.03 and a beta of 0.73. SM Energy Company has a one year low of $17.45 and a one year high of $38.25.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was up 215.3% compared to the same quarter last year. On average, analysts forecast that SM Energy Company will post 7.36 EPS for the current fiscal year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, September 4th. SM Energy’s dividend payout ratio (DPR) is currently 17.32%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SM. Wall Street Zen raised SM Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Susquehanna increased their price objective on shares of SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Zacks Research downgraded shares of SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company upgraded shares of SM Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $47.00 in a research report on Thursday, August 13th. Finally, Siebert Williams Shank raised shares of SM Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $41.00 in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Insiders Place Their Bets

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the transaction, the executive vice president directly owned 14,705 shares in the company, valued at approximately $544,379.10. This represents a 54.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.45% of the company’s stock.

About SM Energy

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.