Prudential Financial Inc. Increases Stake in SM Energy Company (SM)
Prudential Financial Inc. grew its stake in shares of SM Energy Company (NYSE:SM) by 204.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,275 shares of the energy company’s stock after purchasing an additional 127,690 shares during the period. Prudential Financial Inc. owned approximately 0.17% of SM Energy worth $3,375,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in SM Energy during the first quarter worth about $3,211,000. Creative Planning boosted its stake in SM Energy by 845.4% during the second quarter. Creative Planning now owns 17,726 shares of the energy company’s stock worth $293,000 after acquiring an additional 15,851 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in SM Energy by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,416 shares of the energy company’s stock worth $585,000 after acquiring an additional 1,531 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in SM Energy during the second quarter worth about $226,000. Finally, Louisiana State Employees Retirement System boosted its stake in SM Energy by 3.2% during the second quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the energy company’s stock worth $422,000 after acquiring an additional 800 shares in the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SM Energy Company (NYSE:SM) traded up $1.68 during trading on Friday, reaching $22.32. 5,283,686 shares of the company’s stock traded hands, compared to its average volume of 3,918,888. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.53 and a quick ratio of 1.53. SM Energy Company has a twelve month low of $12.29 and a twelve month high of $40.05.
Several equities research analysts recently commented on SM shares. BidaskClub lowered shares of SM Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. J P Morgan Chase & Co raised shares of SM Energy from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Monday, October 23rd. BMO Capital Markets set a $20.00 price objective on shares of SM Energy and gave the stock a “hold” rating in a research note on Saturday, August 5th. KeyCorp reissued a “buy” rating and set a $26.00 price objective on shares of SM Energy in a research note on Friday, October 20th. Finally, Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of SM Energy in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $26.00.
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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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