abrdn plc Decreases Stock Holdings in SM Energy (NYSE:SM)

abrdn plc lowered its stake in SM Energy (NYSE:SM) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 466,012 shares of the energy company’s stock after selling 21,093 shares during the quarter. abrdn plc’s holdings in SM Energy were worth $18,044,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AE Wealth Management LLC bought a new stake in shares of SM Energy during the 3rd quarter valued at about $535,000. SG Americas Securities LLC bought a new stake in shares of SM Energy during the 3rd quarter valued at $1,488,000. Verdence Capital Advisors LLC raised its holdings in SM Energy by 2.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 77,729 shares of the energy company’s stock worth $3,082,000 after purchasing an additional 1,954 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in SM Energy by 13.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,127 shares of the energy company’s stock valued at $957,000 after purchasing an additional 2,777 shares during the period. Finally, BluePath Capital Management LLC purchased a new stake in SM Energy in the third quarter worth about $32,000. Institutional investors own 94.56% of the company’s stock.

SM Energy Trading Up 0.4 %

Shares of SM stock opened at $50.01 on Thursday. 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 has a market capitalization of $5.79 billion, a price-to-earnings ratio of 7.28 and a beta of 4.20. SM Energy has a 12-month low of $25.03 and a 12-month high of $53.26. The stock’s 50-day moving average price is $46.92 and its 200-day moving average price is $41.19.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. The business 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 20.74% and a net margin of 34.45%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. Equities research analysts predict that SM Energy will post 6.33 EPS for the current fiscal year.

SM Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a $0.18 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. SM Energy’s payout ratio is currently 10.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SM. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of SM Energy in a research report on Monday, February 5th. Raymond James lowered their price target on shares of SM Energy from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, January 8th. JPMorgan Chase & Co. raised their price objective on shares of SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Wells Fargo & Company upped their target price on shares of SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, StockNews.com raised SM Energy from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.57.

About SM Energy

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.