Oliver Luxxe Assets LLC Decreases Stake in SM Energy Company $SM

Oliver Luxxe Assets LLC cut its stake in shares of SM Energy Company (NYSE:SM) by 30.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,050 shares of the energy company’s stock after selling 30,116 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in SM Energy were worth $1,776,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SM. NBC Securities Inc. boosted its holdings in SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock worth $25,000 after buying an additional 830 shares in the last quarter. SBI Securities Co. Ltd. grew its position in 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 buying an additional 1,360 shares during the period. Torren Management LLC increased its holdings in SM Energy by 4,561.1% in the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock valued at $26,000 after buying an additional 821 shares in the last quarter. Global Retirement Partners LLC increased its holdings in SM Energy by 62.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after buying an additional 535 shares in the last quarter. Finally, Center for Financial Planning Inc. acquired a new stake in shares of SM Energy during the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Stock Performance

Shares of SM opened at $28.89 on Monday. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $35.88. The stock has a market cap of $6.87 billion, a P/E ratio of 5.69 and a beta of 0.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $29.79 and a two-hundred day moving average of $27.78.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.96 by $0.23. SM Energy had a net margin of 18.20% and a return on equity of 17.93%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business earned $1.50 earnings per share. The company’s quarterly revenue was up 215.3% on a year-over-year basis. As a group, research analysts predict that SM Energy Company will post 6.95 EPS for the current fiscal year.

SM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 3.0%. SM Energy’s dividend payout ratio is presently 17.32%.

Insider Buying and Selling

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total transaction of $834,310.94. Following the sale, the director owned 65,964 shares in the company, valued at approximately $2,241,456.72. This represents a 27.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SM. Siebert Williams Shank raised SM Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $41.00 in a research note on Thursday, May 14th. Stephens dropped their price objective on SM Energy from $61.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Roth Capital raised SM Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.00 in a report on Monday, June 22nd. Weiss Ratings upgraded SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Zacks Research lowered SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.53.

About SM Energy

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.