16,162 Shares in SM Energy Company $SM Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new stake in SM Energy Company (NYSE:SM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,162 shares of the energy company’s stock, valued at approximately $422,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of SM Energy in the second quarter valued at approximately $1,025,229,000. Donald Smith & CO. Inc. bought a new position in shares of SM Energy in the second quarter worth $199,602,000. Dimensional Fund Advisors LP lifted its position in SM Energy by 79.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,995,353 shares of the energy company’s stock worth $311,678,000 after purchasing an additional 4,426,751 shares during the period. Millennium Management LLC grew its stake in SM Energy by 205.1% during the fourth quarter. Millennium Management LLC now owns 2,835,718 shares of the energy company’s stock worth $53,028,000 after buying an additional 1,906,255 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in SM Energy during the second quarter worth about $43,259,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of SM Energy in a research report on Monday, August 17th. Zacks Research cut SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Roth Capital upgraded SM Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $32.00 in a research report on Monday, June 22nd. Susquehanna raised their price objective on SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Finally, Mizuho upgraded SM Energy to a “strong-buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, SM Energy has an average rating of “Moderate Buy” and a consensus target price of $37.93.

SM Energy Stock Down 2.1%

Shares of NYSE:SM opened at $35.71 on Wednesday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $38.25. The company has a market capitalization of $8.49 billion, a PE ratio of 7.03 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. The company has a fifty day moving average of $30.49 and a 200-day moving average of $29.10.

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

SM Energy Dividend Announcement

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 paid a $0.22 dividend. The ex-dividend date of this dividend 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 Activity at SM Energy

In other SM Energy news, EVP James Barker Lebeck sold 17,500 shares of the 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 completion of the sale, the executive vice president owned 14,705 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Company 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.