Bank of New York Mellon Corp Sells 52,425 Shares of SM Energy Company (NYSE:SM)

Bank of New York Mellon Corp cut its position in SM Energy Company (NYSE:SM) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,182,465 shares of the energy company’s stock after selling 52,425 shares during the quarter. Bank of New York Mellon Corp owned about 1.03% of SM Energy worth $35,415,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in SM Energy by 64.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,730 shares of the energy company’s stock valued at $183,000 after acquiring an additional 1,854 shares during the period. Janney Montgomery Scott LLC raised its holdings in SM Energy by 2.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,258 shares of the energy company’s stock valued at $637,000 after acquiring an additional 518 shares during the period. Range Financial Group LLC raised its holdings in SM Energy by 16.9% during the 1st quarter. Range Financial Group LLC now owns 25,119 shares of the energy company’s stock valued at $752,000 after acquiring an additional 3,624 shares during the period. Intrust Bank NA bought a new stake in SM Energy during the 4th quarter valued at $396,000. Finally, Harbor Capital Advisors Inc. raised its holdings in SM Energy by 80.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company’s stock valued at $46,000 after acquiring an additional 679 shares during the period. 94.56% of the stock is currently owned by institutional investors.

SM Energy Stock Performance

Shares of SM opened at $27.56 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $25.12 and its 200-day moving average price is $30.01. SM Energy Company has a 52 week low of $19.67 and a 52 week high of $48.49. The stock has a market cap of $3.15 billion, a P/E ratio of 3.86 and a beta of 2.16.

SM Energy (NYSE:SM) last issued its earnings results on Thursday, May 1st. The energy company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.16. The firm had revenue of $844.54 million for the quarter, compared to the consensus estimate of $814.62 million. SM Energy had a net margin of 27.61% and a return on equity of 19.90%. The business’s revenue was up 50.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Equities research analysts anticipate that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, July 18th. SM Energy’s dividend payout ratio is currently 11.20%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho lowered their target price on shares of SM Energy from $46.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. KeyCorp lowered their target price on shares of SM Energy from $60.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Raymond James Financial cut shares of SM Energy from an “outperform” rating to an “underperform” rating in a research report on Tuesday, June 24th. Susquehanna decreased their price objective on shares of SM Energy from $39.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Finally, Stephens decreased their price objective on shares of SM Energy from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, SM Energy presently has an average rating of “Moderate Buy” and an average target price of $42.08.

SM Energy Company Profile

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.