SM Energy Company $SM Stake Lowered by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its stake in shares of SM Energy Company (NYSE:SM) by 42.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,614 shares of the energy company’s stock after selling 17,762 shares during the period. Allianz Asset Management GmbH’s holdings in SM Energy were worth $584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in SM Energy by 69.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the energy company’s stock worth $30,000 after buying an additional 417 shares during the last quarter. Diversified Trust Co boosted its holdings in SM Energy by 1.8% during the second quarter. Diversified Trust Co now owns 29,209 shares of the energy company’s stock valued at $722,000 after acquiring an additional 505 shares during the period. Xponance Inc. boosted its holdings in SM Energy by 6.3% during the first quarter. Xponance Inc. now owns 8,688 shares of the energy company’s stock valued at $260,000 after acquiring an additional 516 shares during the period. Janney Montgomery Scott LLC boosted its holdings in SM Energy by 2.5% during the first 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. Finally, Signaturefd LLC boosted its holdings in SM Energy by 21.9% during the second quarter. Signaturefd LLC now owns 3,118 shares of the energy company’s stock valued at $77,000 after acquiring an additional 560 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SM. TD Cowen upgraded shares of SM Energy to a “strong-buy” rating in a research note on Monday, July 7th. Zacks Research cut shares of SM Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, October 3rd. Wells Fargo & Company reduced their target price on shares of SM Energy from $30.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Mizuho set a $38.00 target price on shares of SM Energy in a research note on Friday, October 10th. Finally, Susquehanna reduced their target price on shares of SM Energy to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.50.

SM Energy Stock Performance

Shares of SM Energy stock opened at $21.09 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $2.42 billion, a P/E ratio of 2.98 and a beta of 2.30. The firm has a 50 day simple moving average of $25.51 and a 200 day simple moving average of $25.29. SM Energy Company has a fifty-two week low of $19.67 and a fifty-two week high of $46.42.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.27. The business had revenue of $792.94 million during the quarter, compared to analyst estimates of $792.58 million. SM Energy had a net margin of 25.94% and a return on equity of 18.06%. SM Energy’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 earnings per share. Sell-side analysts predict that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, October 17th. SM Energy’s payout ratio is currently 11.30%.

SM Energy 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.