Allspring Global Investments Holdings LLC Has $42.02 Million Stock Position in SM Energy (NYSE:SM)

Allspring Global Investments Holdings LLC grew its holdings in SM Energy (NYSE:SMFree Report) by 12.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 842,960 shares of the energy company’s stock after purchasing an additional 91,507 shares during the period. Allspring Global Investments Holdings LLC owned about 0.73% of SM Energy worth $42,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC grew its position in SM Energy by 11.3% in the fourth quarter. CWM LLC now owns 2,683 shares of the energy company’s stock valued at $104,000 after purchasing an additional 272 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of SM Energy by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,125 shares of the energy company’s stock valued at $779,000 after acquiring an additional 286 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in SM Energy by 31.6% during the fourth quarter. First Horizon Advisors Inc. now owns 1,469 shares of the energy company’s stock worth $57,000 after acquiring an additional 353 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in SM Energy by 509.7% during the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after purchasing an additional 474 shares during the last quarter. Finally, US Bancorp DE boosted its position in SM Energy by 0.9% during the fourth quarter. US Bancorp DE now owns 52,651 shares of the energy company’s stock valued at $2,039,000 after purchasing an additional 493 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Trading Up 2.2 %

SM stock opened at $45.32 on Thursday. SM Energy has a 52 week low of $29.51 and a 52 week high of $53.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. The company’s 50-day simple moving average is $48.22 and its 200 day simple moving average is $44.54. The company has a market capitalization of $5.21 billion, a PE ratio of 7.10 and a beta of 4.20.

SM Energy (NYSE:SMGet Free Report) last announced its earnings results on Thursday, May 2nd. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.28 by $0.13. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. The company had revenue of $559.87 million for the quarter, compared to analysts’ expectations of $568.21 million. As a group, sell-side analysts anticipate that SM Energy will post 6.7 earnings per share for the current year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 19th will be issued a $0.18 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.72 annualized dividend and a yield of 1.59%. SM Energy’s dividend payout ratio is presently 11.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SM shares. Susquehanna upped their price objective on SM Energy from $42.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. KeyCorp boosted their price objective on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Truist Financial cut their target price on shares of SM Energy from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Monday. Finally, Mizuho boosted their price target on SM Energy from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.89.

Check Out Our Latest Report on SM

Insider Activity

In related news, SVP Kenneth J. Knott sold 16,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $50.28, for a total value of $804,480.00. Following the transaction, the senior vice president now owns 114,495 shares in the company, valued at $5,756,808.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

SM Energy Company Profile

(Free Report)

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.

Further Reading

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

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