Public Sector Pension Investment Board Trims Holdings in SM Energy (NYSE:SM)

Public Sector Pension Investment Board lessened its holdings in shares of SM Energy (NYSE:SMGet Rating) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,589 shares of the energy company’s stock after selling 1,137 shares during the period. Public Sector Pension Investment Board owned about 0.18% of SM Energy worth $7,713,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Beck Capital Management LLC purchased a new position in SM Energy during the 2nd quarter valued at about $1,325,000. AlphaCrest Capital Management LLC boosted its position in SM Energy by 51.0% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 11,325 shares of the energy company’s stock valued at $387,000 after acquiring an additional 3,825 shares in the last quarter. Deutsche Bank AG boosted its position in SM Energy by 347.3% during the 2nd quarter. Deutsche Bank AG now owns 416,039 shares of the energy company’s stock valued at $14,225,000 after acquiring an additional 323,032 shares in the last quarter. JPMorgan Chase & Co. boosted its position in SM Energy by 65.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,776,381 shares of the energy company’s stock valued at $60,735,000 after acquiring an additional 705,246 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in SM Energy by 16.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 20,468 shares of the energy company’s stock valued at $700,000 after acquiring an additional 2,964 shares in the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.

Analyst Ratings Changes

SM has been the topic of several research reports. Royal Bank of Canada lifted their price objective on SM Energy from $53.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, November 14th. Barclays cut their price objective on SM Energy from $51.00 to $46.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 19th. StockNews.com cut SM Energy from a “buy” rating to a “hold” rating in a research report on Monday, November 7th. Finally, KeyCorp assumed coverage on SM Energy in a research report on Monday, September 19th. They issued an “overweight” rating and a $64.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.44.

SM Energy Stock Performance

SM stock opened at $43.74 on Thursday. The stock has a market capitalization of $5.37 billion, a PE ratio of 4.25 and a beta of 4.56. SM Energy has a 12-month low of $25.23 and a 12-month high of $54.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $43.25 and its 200 day simple moving average is $41.50.

SM Energy Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, November 7th. Investors of record on Tuesday, October 25th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, October 24th. This is a boost from SM Energy’s previous Semi-Annual dividend of $0.01. This represents a yield of 0.7%. SM Energy’s dividend payout ratio is 5.83%.

Insider Activity at SM Energy

In other SM Energy news, EVP David W. Copeland sold 10,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $46.23, for a total transaction of $462,300.00. Following the completion of the sale, the executive vice president now directly owns 228,543 shares in the company, valued at approximately $10,565,542.89. The sale was disclosed in a document filed with the SEC, which is available through this link. In other SM Energy news, CAO Patrick A. Lytle sold 8,658 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $45.61, for a total transaction of $394,891.38. Following the completion of the sale, the chief accounting officer now directly owns 12,463 shares in the company, valued at approximately $568,437.43. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP David W. Copeland sold 10,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $46.23, for a total transaction of $462,300.00. Following the sale, the executive vice president now owns 228,543 shares of the company’s stock, valued at $10,565,542.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,958 shares of company stock valued at $1,811,408. 1.60% of the stock is owned by corporate insiders.

SM Energy Company Profile

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SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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Institutional Ownership by Quarter for SM Energy (NYSE:SM)

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