Elevation Point Wealth Partners LLC Invests $422,000 in SM Energy Company $SM

Elevation Point Wealth Partners LLC acquired a new stake in SM Energy Company (NYSE:SM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,162 shares of the energy company’s stock, valued at approximately $422,000.

Several other hedge funds and other institutional investors have also modified their holdings of SM. Royal Bank of Canada increased its position in shares of SM Energy by 112.1% during the first quarter. Royal Bank of Canada now owns 94,115 shares of the energy company’s stock valued at $2,935,000 after purchasing an additional 49,740 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of SM Energy during the 2nd quarter worth about $2,243,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of SM Energy by 96.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 114,609 shares of the energy company’s stock worth $2,143,000 after buying an additional 56,160 shares in the last quarter. Denali Advisors LLC raised its position in SM Energy by 22.2% in the 4th quarter. Denali Advisors LLC now owns 300,000 shares of the energy company’s stock valued at $5,610,000 after purchasing an additional 54,428 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of SM Energy by 23.0% in the fourth quarter. UBS Group AG now owns 666,070 shares of the energy company’s stock valued at $12,456,000 after buying an additional 124,448 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Wall Street Analysts Forecast Growth

SM has been the topic of several research reports. Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $32.00 in a research note on Monday, June 22nd. UBS Group assumed coverage on shares of SM Energy in a research note on Tuesday, July 14th. They issued a “buy” rating and a $36.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of SM Energy in a research report on Monday, August 17th. Mizuho raised SM Energy to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Susquehanna raised their price target on SM Energy from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. One investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

SM Energy Stock Down 2.1%

SM Energy stock opened at $35.71 on Wednesday. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 7.03 and a beta of 0.73. The company’s 50 day simple moving average is $30.49 and its 200 day simple moving average is $29.10. 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 fifty-two week low of $17.45 and a fifty-two week high of $38.25.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The firm had revenue of $2.50 billion during 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. The business’s quarterly revenue was up 215.3% on a year-over-year basis. As a group, sell-side analysts anticipate that SM Energy Company will post 7.36 EPS for the current year.

SM Energy Announces Dividend

The firm 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 $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. SM Energy’s payout ratio is currently 17.32%.

Insider Transactions at SM Energy

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total transaction of $647,850.00. Following the sale, the executive vice president directly owned 14,705 shares in the company, valued at approximately $544,379.10. This trade represents a 54.34% decrease in their position. The sale was disclosed in a filing with the SEC, 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.