Redwood Investment Management LLC Purchases Shares of 82,815 SM Energy Company $SM

Redwood Investment Management LLC purchased a new stake in shares of SM Energy Company (NYSE:SM) in the 2nd quarter, Holdings Channel reports. The fund purchased 82,815 shares of the energy company’s stock, valued at approximately $2,161,000.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in SM Energy by 27.7% during the first quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock valued at $2,753,000 after buying an additional 19,965 shares during the period. AQR Capital Management LLC raised its position in SM Energy by 43.9% in the first quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock worth $4,370,000 after acquiring an additional 44,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 worth $2,040,000 after acquiring an additional 2,969 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of 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 acquiring an additional 1,007 shares during the period. Finally, United Services Automobile Association bought a new stake in shares of SM Energy during the 1st quarter valued at $222,000. Institutional investors own 94.56% of the company’s stock.

Insider Activity

In related news, EVP James Barker Lebeck sold 17,500 shares of the 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 completion of the transaction, the executive vice president owned 14,705 shares of the company’s stock, valued at approximately $544,379.10. This trade represents a 54.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

SM Energy Trading Down 0.9%

SM stock opened at $35.36 on Thursday. The firm has a fifty day moving average price of $30.64 and a 200 day moving average price of $29.21. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $38.25. The firm has a market cap of $8.41 billion, a PE ratio of 6.96 and a beta of 0.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62.

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

SM Energy Dividend Announcement

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

Analysts Set New Price Targets

SM has been the subject of several analyst reports. Truist Financial upped their price objective on SM Energy from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Siebert Williams Shank upgraded SM Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $41.00 in a research report on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of SM Energy in a report on Monday, August 17th. Wells Fargo & Company upgraded SM Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $47.00 in a research report on Thursday, August 13th. Finally, Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $32.00 in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.