SM Energy Company (SM) Shares Bought by Elk Creek Partners LLC
Elk Creek Partners LLC lifted its position in SM Energy Company (NYSE:SM) by 32.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 558,837 shares of the energy company’s stock after purchasing an additional 136,509 shares during the quarter. Elk Creek Partners LLC owned about 0.50% of SM Energy worth $9,238,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in shares of SM Energy by 33.1% in the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock worth $95,926,000 after purchasing an additional 994,186 shares during the period. Systematic Financial Management LP increased its holdings in shares of SM Energy by 14.4% in the first quarter. Systematic Financial Management LP now owns 1,306,178 shares of the energy company’s stock worth $31,374,000 after purchasing an additional 164,226 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of SM Energy by 87.2% in the second quarter. BNP Paribas Arbitrage SA now owns 85,207 shares of the energy company’s stock worth $1,408,000 after purchasing an additional 39,683 shares during the period. Investec Asset Management LTD increased its holdings in shares of SM Energy by 52.9% in the first quarter. Investec Asset Management LTD now owns 360,461 shares of the energy company’s stock worth $8,658,000 after purchasing an additional 124,741 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of SM Energy by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 33,885 shares of the energy company’s stock worth $814,000 after purchasing an additional 500 shares during the period. 97.06% of the stock is currently owned by hedge funds and other institutional investors.
SM has been the topic of several research analyst reports. BidaskClub cut shares of SM Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Credit Suisse Group initiated coverage on shares of SM Energy in a report on Thursday, June 1st. They issued an “outperform” rating and a $30.00 price target on the stock. BMO Capital Markets set a $20.00 price target on shares of SM Energy and gave the stock a “hold” rating in a report on Saturday, August 5th. Bank of America Corporation initiated coverage on SM Energy in a research note on Wednesday, July 19th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Royal Bank Of Canada set a $20.00 target price on SM Energy and gave the company a “hold” rating in a research note on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. SM Energy presently has a consensus rating of “Hold” and an average price target of $31.73.
SM Energy Company (NYSE:SM) traded down 0.76% during mid-day trading on Friday, hitting $15.60. 6,335,838 shares of the stock were exchanged. The company’s 50-day moving average price is $14.47 and its 200 day moving average price is $18.63. SM Energy Company has a 52 week low of $12.29 and a 52 week high of $43.09. The firm’s market capitalization is $1.74 billion.
SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). SM Energy had a negative net margin of 20.67% and a negative return on equity of 3.11%. The firm had revenue of $284.94 million during the quarter, compared to analysts’ expectations of $299.12 million. During the same period in the previous year, the company earned ($0.44) EPS. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. Equities research analysts expect that SM Energy Company will post ($1.14) EPS for the current year.
About SM Energy
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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