Man Group plc Purchases Shares of 45,981 SM Energy Company $SM

Man Group plc purchased a new stake in shares of SM Energy Company (NYSE:SM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 45,981 shares of the energy company’s stock, valued at approximately $1,200,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jupiter Topco LLC acquired a new stake in shares of SM Energy in the second quarter valued at $2,802,000. Expect Equity LLC acquired a new position in SM Energy during the second quarter worth about $2,501,000. Palisade Capital Management LP acquired a new position in SM Energy during the second quarter worth about $11,017,000. Canada Pension Plan Investment Board bought a new stake in SM Energy in the second quarter worth about $378,288,000. Finally, Manatuck Hill Partners LLC bought a new stake in SM Energy in the second quarter worth about $261,000. Institutional investors own 94.56% of the company’s stock.

Insider Buying and Selling at SM Energy

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SM shares. Raymond James Financial reduced their price objective on shares of SM Energy from $55.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Roth Capital upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a report on Monday, June 22nd. Mizuho upgraded shares of SM Energy to a “strong-buy” rating in a report on Friday, July 31st. Stephens decreased their price target on shares of SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Finally, Truist Financial lifted their price target on shares of SM Energy from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.93.

SM Energy Price Performance

Shares of NYSE:SM opened at $38.38 on Thursday. The company’s fifty day moving average is $31.66 and its two-hundred day moving average is $29.78. The company has a market cap of $9.13 billion, a P/E ratio of 7.56 and a beta of 0.75. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $38.94. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.85.

SM Energy (NYSE:SM) last issued its quarterly 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 business 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 for the quarter was up 215.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. Equities analysts expect that SM Energy Company will post 7.45 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. Shareholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, September 4th. SM Energy’s payout ratio is 17.32%.

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.