California Public Employees Retirement System Increases Stake in SM Energy (NYSE:SM)

California Public Employees Retirement System raised its position in SM Energy (NYSE:SMGet Rating) by 16.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 209,199 shares of the energy company’s stock after purchasing an additional 29,422 shares during the period. California Public Employees Retirement System owned 0.17% of SM Energy worth $7,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SM. SeaCrest Wealth Management LLC acquired a new stake in shares of SM Energy in the 2nd quarter worth $34,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of SM Energy in the 1st quarter worth $112,000. Meeder Asset Management Inc. acquired a new stake in shares of SM Energy during the 1st quarter worth about $125,000. KBC Group NV increased its position in shares of SM Energy by 24.6% during the 1st quarter. KBC Group NV now owns 3,904 shares of the energy company’s stock worth $152,000 after purchasing an additional 771 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of SM Energy by 8.1% during the 2nd quarter. Xponance Inc. now owns 6,739 shares of the energy company’s stock worth $230,000 after purchasing an additional 507 shares during the last quarter. 90.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other news, CAO Patrick A. Lytle sold 8,658 shares of SM Energy stock in a transaction dated Friday, September 9th. The stock was 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 in the company, valued at approximately $568,437.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP David W. Copeland sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was 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 owns 228,543 shares in the company, valued at $10,565,542.89. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Patrick A. Lytle sold 8,658 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $45.61, for a total value of $394,891.38. Following the sale, the chief accounting officer now owns 12,463 shares of the company’s stock, valued at approximately $568,437.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,958 shares of company stock worth $1,811,408. 1.60% of the stock is currently owned by company insiders.

SM Energy Stock Performance

NYSE SM opened at $43.74 on Thursday. The stock has a 50-day moving average of $43.25 and a two-hundred day moving average of $41.50. 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 company has a market cap of $5.37 billion, a P/E ratio of 4.25 and a beta of 4.56. 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 disclosed a Semi-Annual dividend, which was paid on Monday, November 7th. Stockholders of record on Tuesday, October 25th were paid a $0.15 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Monday, October 24th. This is a boost from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s dividend payout ratio (DPR) is presently 5.83%.

SM Energy 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.

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

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