Summit Global Investments Buys Shares of 16,958 SM Energy (NYSE:SM)

Summit Global Investments purchased a new stake in SM Energy (NYSE:SM) during the 4th quarter, Holdings Channel reports. The fund purchased 16,958 shares of the energy company’s stock, valued at approximately $657,000.

Several other large investors have also modified their holdings of the business. CWM LLC grew its holdings in SM Energy by 11.3% during the 4th quarter. CWM LLC now owns 2,683 shares of the energy company’s stock valued at $104,000 after buying an additional 272 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of SM Energy by 1.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,125 shares of the energy company’s stock valued at $779,000 after acquiring an additional 286 shares during the last quarter. First Horizon Advisors Inc. increased its position in SM Energy by 31.6% during the 4th quarter. First Horizon Advisors Inc. now owns 1,469 shares of the energy company’s stock worth $57,000 after purchasing an additional 353 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in SM Energy by 59.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 990 shares of the energy company’s stock valued at $39,000 after purchasing an additional 370 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in SM Energy by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 34,315 shares of the energy company’s stock valued at $1,361,000 after purchasing an additional 464 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Trading Up 5.0 %

Shares of SM opened at $50.13 on Friday. SM Energy has a twelve month low of $25.03 and a twelve month high of $53.26. The firm has a market capitalization of $5.80 billion, a P/E ratio of 7.86 and a beta of 4.21. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $48.24 and its 200 day simple moving average is $41.62.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. The company had revenue of $608.73 million for the quarter, compared to the consensus estimate of $611.35 million. SM Energy had a return on equity of 20.48% and a net margin of 31.80%. During the same period last year, the business posted $1.29 EPS. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts forecast that SM Energy will post 6.42 earnings per share for the current year.

SM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, April 18th. SM Energy’s dividend payout ratio is presently 11.29%.

Analyst Ratings Changes

A number of brokerages have recently commented on SM. JPMorgan Chase & Co. lifted their price target on shares of SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wells Fargo & Company boosted their price target on SM Energy from $45.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Raymond James decreased their price objective on SM Energy from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, January 8th. Mizuho upped their target price on SM Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, KeyCorp increased their target price on SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.57.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.