New York State Common Retirement Fund Increases Stake in SM Energy Company (SM)
New York State Common Retirement Fund lifted its holdings in SM Energy Company (NYSE:SM) by 28.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,145,558 shares of the energy company’s stock after purchasing an additional 255,017 shares during the quarter. New York State Common Retirement Fund owned 1.03% of SM Energy worth $18,936,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in SM Energy by 16.2% during the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock worth $210,889,000 after acquiring an additional 1,226,564 shares in the last quarter. Causeway Capital Management LLC raised its position in SM Energy by 230.1% during the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock worth $189,801,000 after acquiring an additional 4,816,230 shares in the last quarter. Alliancebernstein L.P. raised its position in SM Energy by 12.6% during the second quarter. Alliancebernstein L.P. now owns 4,497,847 shares of the energy company’s stock worth $74,349,000 after acquiring an additional 504,248 shares in the last quarter. State Street Corp raised its position in SM Energy by 15.7% during the first quarter. State Street Corp now owns 4,415,234 shares of the energy company’s stock worth $106,054,000 after acquiring an additional 600,265 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in SM Energy by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,523,022 shares of the energy company’s stock worth $60,600,000 after acquiring an additional 375,453 shares in the last quarter. 97.05% of the stock is currently owned by institutional investors and hedge funds.
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Several analysts have issued reports on SM shares. BMO Capital Markets set a $20.00 price target on shares of SM Energy and gave the stock a “hold” rating in a research report on Saturday, August 5th. Seaport Global Securities downgraded shares of SM Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $31.00 to $16.00 in a report on Wednesday, June 21st. Scotiabank set a $19.00 price objective on shares of SM Energy and gave the company a “hold” rating in a report on Saturday, July 1st. BidaskClub downgraded shares of SM Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Williams Capital set a $32.00 price objective on shares of SM Energy and gave the company a “buy” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.73.
Shares of SM Energy Company (NYSE:SM) opened at 17.74 on Friday. SM Energy Company has a 52-week low of $12.29 and a 52-week high of $43.09. The company’s 50-day moving average is $14.37 and its 200 day moving average is $18.41. The company’s market cap is $1.98 billion.
SM Energy (NYSE:SM) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.32) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.32). The business had revenue of $284.94 million during the quarter, compared to analyst estimates of $299.12 million. SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) EPS. On average, analysts anticipate that SM Energy Company will post ($1.14) EPS for the current year.
The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 20th will be issued a dividend of $0.05 per share. This represents a yield of 0.54%. The ex-dividend date is Thursday, October 19th. SM Energy’s payout ratio is presently -3.19%.
SM Energy Profile
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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