State of Alaska Department of Revenue Sells 32,418 Shares of SM Energy Company $SM

State of Alaska Department of Revenue lowered its holdings in shares of SM Energy Company (NYSE:SM) by 22.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,819 shares of the energy company’s stock after selling 32,418 shares during the period. State of Alaska Department of Revenue’s holdings in SM Energy were worth $3,809,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SM. Torren Management LLC lifted its position in shares of SM Energy by 4,561.1% during the 1st quarter. Torren Management LLC now owns 839 shares of the energy company’s stock worth $26,000 after buying an additional 821 shares during the last quarter. CoreCap Advisors LLC boosted its stake in SM Energy by 211.2% in the third quarter. CoreCap Advisors LLC now owns 974 shares of the energy company’s stock valued at $33,000 after buying an additional 661 shares in the last quarter. Center for Financial Planning Inc. bought a new position in SM Energy in the first quarter valued at about $31,000. Valued Wealth Advisors LLC bought a new position in SM Energy in the first quarter valued at about $33,000. Finally, Kilter Group LLC bought a new position in SM Energy in the second quarter valued at about $28,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Wall Street Analyst Weigh In

SM has been the subject of several research analyst reports. Weiss Ratings raised SM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. Zacks Research raised shares of SM Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Raymond James Financial reduced their price target on shares of SM Energy from $55.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. Seaport Research Partners started coverage on shares of SM Energy in a report on Thursday, September 3rd. They set a “sell” rating and a $35.00 price target on the stock. Finally, UBS Group lifted their price target on shares of SM Energy from $36.00 to $48.00 and gave the company a “buy” rating in a report on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.76.

Insider Activity

In other news, EVP James Barker Lebeck sold 17,500 shares of SM Energy stock in a transaction dated Friday, August 21st. The stock was 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 of the company’s stock, valued at approximately $544,379.10. This trade represents a 54.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ashwin Venkatraman sold 3,650 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the sale, the director owned 12,525 shares in the company, valued at approximately $479,457. This trade represents a 22.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is currently owned by company insiders.

SM Energy Stock Up 5.3%

Shares of NYSE:SM opened at $39.51 on Friday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $41.56. The company has a market capitalization of $9.40 billion, a PE ratio of 7.78 and a beta of 0.95. 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 company has a fifty day moving average of $36.15 and a 200-day moving average of $32.18.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $1.50 EPS. SM Energy’s revenue for the quarter was up 215.3% on a year-over-year basis. On average, equities analysts predict that SM Energy Company will post 7.85 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 7th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 4th. SM Energy’s dividend payout ratio is presently 17.32%.

About SM Energy

SM Energy Company is an independent energy company engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. Its operations focus on onshore properties in the United States, with activities concentrated in major producing regions such as the Permian Basin in West Texas and the South Texas Eagle Ford.

The company’s products include crude oil, natural gas, and natural gas liquids, which it sells to energy marketers, midstream companies, and other purchasers.