SeaCrest Wealth Management LLC Makes New $34,000 Investment in SM Energy (NYSE:SM)

SeaCrest Wealth Management LLC bought a new stake in SM Energy (NYSE:SMGet Rating) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,000 shares of the energy company’s stock, valued at approximately $34,000.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of SM Energy in the first quarter valued at about $112,000. Meeder Asset Management Inc. acquired a new stake in shares of SM Energy in the first quarter valued at about $125,000. KBC Group NV raised its position in shares of SM Energy by 24.6% in the first quarter. KBC Group NV now owns 3,904 shares of the energy company’s stock valued at $152,000 after buying an additional 771 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of SM Energy in the first quarter valued at about $268,000. Finally, Xponance Inc. raised its position in shares of SM Energy by 8.1% in the second quarter. Xponance Inc. now owns 6,739 shares of the energy company’s stock valued at $230,000 after buying an additional 507 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Trading Up 4.4 %

Shares of SM stock opened at $44.61 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $5.48 billion, a PE ratio of 4.34 and a beta of 4.56. The company has a 50-day moving average of $43.32 and a two-hundred day moving average of $41.48. SM Energy has a 1-year low of $25.23 and a 1-year high of $54.97.

SM Energy Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th were paid a dividend of $0.15 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Monday, October 24th. This is a positive change from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s dividend payout ratio (DPR) is 5.83%.

Insiders Place Their Bets

In other SM Energy news, Director Julio M. Quintana sold 22,300 shares of the stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $42.79, for a total transaction of $954,217.00. Following the completion of the transaction, the director now owns 121,944 shares of the company’s stock, valued at $5,217,983.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Patrick A. Lytle sold 8,658 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $45.61, for a total value of $394,891.38. Following the completion of the transaction, the chief accounting officer now owns 12,463 shares of the company’s stock, valued at $568,437.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Julio M. Quintana sold 22,300 shares of the firm’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $42.79, for a total transaction of $954,217.00. Following the completion of the transaction, the director now directly owns 121,944 shares of the company’s stock, valued at approximately $5,217,983.76. The disclosure for this sale can be found here. Insiders sold a total of 40,958 shares of company stock valued at $1,811,408 over the last 90 days. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

SM Energy Company Profile

(Get Rating)

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.

See Also

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

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