Bank of New York Mellon Corp Has $44.20 Million Position in SM Energy Company $SM

Bank of New York Mellon Corp lifted its position in shares of SM Energy Company (NYSE:SM) by 95.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,417,686 shares of the energy company’s stock after purchasing an additional 692,452 shares during the period. Bank of New York Mellon Corp owned 0.59% of SM Energy worth $44,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SM. NBC Securities Inc. increased its holdings in shares of SM Energy by 160.5% during the 4th quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock worth $25,000 after acquiring an additional 830 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in SM Energy by 10,461.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock valued at $26,000 after purchasing an additional 1,360 shares during the last quarter. Torren Management LLC boosted its position in SM Energy by 4,561.1% during the first quarter. Torren Management LLC now owns 839 shares of the energy company’s stock worth $26,000 after purchasing an additional 821 shares during the period. Global Retirement Partners LLC boosted its position in SM Energy by 62.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock worth $26,000 after purchasing an additional 535 shares during the period. Finally, Center for Financial Planning Inc. acquired a new position in shares of SM Energy in the first quarter valued at $31,000. 94.56% of the stock is owned by institutional investors.

Insider Activity at SM Energy

In related news, Director Ramiro G. Peru sold 24,553 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the sale, the director directly owned 65,964 shares in the company, valued at $2,241,456.72. This represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SM. Stephens dropped their price objective on shares of SM Energy from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Siebert Williams Shank raised shares of SM Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $41.00 in a report on Thursday, May 14th. Mizuho cut their price objective on shares of SM Energy from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Finally, Zacks Research cut SM Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.53.

SM Energy Trading Down 1.0%

Shares of NYSE SM opened at $33.19 on Friday. The firm has a 50 day moving average price of $30.23 and a two-hundred day moving average price of $26.84. The stock has a market cap of $7.96 billion, a P/E ratio of 13.94 and a beta of 0.73. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $35.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.42. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. SM Energy’s revenue was up 75.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 earnings per share. As a group, equities analysts forecast that SM Energy Company will post 6.95 EPS for the current year.

SM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, June 8th. SM Energy’s payout ratio is currently 36.97%.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.