Envestnet Asset Management Inc. Decreases Stock Position in SM Energy Company (NYSE:SM)

Envestnet Asset Management Inc. cut its position in SM Energy Company (NYSE:SM) by 8.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 499,854 shares of the energy company’s stock after selling 45,107 shares during the quarter. Envestnet Asset Management Inc. owned 0.44% of SM Energy worth $14,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake 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 last quarter. Janney Montgomery Scott LLC boosted its stake 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 last quarter. Range Financial Group LLC raised its holdings in shares of SM Energy by 16.9% during the first quarter. Range Financial Group LLC now owns 25,119 shares of the energy company’s stock worth $752,000 after purchasing an additional 3,624 shares during the period. Intrust Bank NA acquired a new stake in shares of SM Energy during the fourth quarter worth $396,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of SM Energy by 80.7% during the first quarter. Harbor Capital Advisors Inc. now owns 1,520 shares of the energy company’s stock worth $46,000 after purchasing an additional 679 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SM shares. KeyCorp dropped their target price on shares of SM Energy from $60.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Stephens dropped their target price on shares of SM Energy from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Susquehanna dropped their target price on shares of SM Energy from $39.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Raymond James Financial cut shares of SM Energy from an “outperform” rating to an “underperform” rating in a report on Tuesday, June 24th. Finally, Mizuho dropped their target price on shares of SM Energy from $46.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. One 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 currently has an average rating of “Moderate Buy” and a consensus price target of $42.08.

SM Energy Stock Down 2.9%

SM stock opened at $25.89 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.62. SM Energy Company has a fifty-two week low of $19.67 and a fifty-two week high of $47.69. The firm’s 50-day simple moving average is $25.57 and its 200 day simple moving average is $29.71. The stock has a market cap of $2.96 billion, a PE ratio of 3.63 and a beta of 2.16.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Thursday, May 1st. The energy company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.16. SM Energy had a return on equity of 19.90% and a net margin of 27.61%. The business had revenue of $844.54 million during the quarter, compared to analyst estimates of $814.62 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s revenue was up 50.8% on a year-over-year basis. As a group, sell-side analysts predict that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, July 18th. SM Energy’s payout ratio is 11.20%.

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.