55,288 Shares in SM Energy Company $SM Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC purchased a new stake in SM Energy Company (NYSE:SM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 55,288 shares of the energy company’s stock, valued at approximately $1,724,000.

Several other hedge funds also recently modified their holdings of SM. Johnson Financial Group Inc. acquired a new stake in shares of SM Energy during the third quarter valued at about $31,000. Root Financial Partners LLC increased its stake in shares of SM Energy by 3,080.5% in the first quarter. Root Financial Partners LLC now owns 1,304 shares of the energy company’s stock valued at $41,000 after buying an additional 1,263 shares during the period. NBC Securities Inc. increased its stake in shares of SM Energy by 160.5% in the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock valued at $25,000 after buying an additional 830 shares during the period. SBI Securities Co. Ltd. raised its position in shares of SM Energy by 10,461.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock worth $26,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock worth $26,000 after acquiring an additional 535 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of SM Energy from $29.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings upgraded shares of SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Susquehanna boosted their target price on shares of SM Energy from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company upped their price target on shares of SM Energy from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, May 18th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, SM Energy presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity

In other news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $33.98, for a total transaction of $834,310.94. Following the transaction, the director owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This represents a 27.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.45% of the stock is owned by company insiders.

SM Energy Trading Up 4.0%

Shares of SM stock opened at $26.75 on Friday. SM Energy Company has a fifty-two week low of $17.45 and a fifty-two week high of $35.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a 50 day simple moving average of $30.27 and a two-hundred day simple moving average of $25.63. The company has a market cap of $6.41 billion, a P/E ratio of 11.24 and a beta of 0.73.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.42 billion. SM Energy had a return on equity of 13.93% and a net margin of 3.45%.The company’s revenue for the quarter was up 75.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 EPS. Research analysts forecast that SM Energy Company will post 7.3 earnings per share for the current year.

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, June 8th. SM Energy’s payout ratio is presently 36.97%.

SM Energy Company 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.