Envestnet Asset Management Inc. Increases Stock Holdings in SM Energy Company $SM

Envestnet Asset Management Inc. lifted its stake in shares of SM Energy Company (NYSE:SM) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 592,940 shares of the energy company’s stock after buying an additional 29,628 shares during the quarter. Envestnet Asset Management Inc. owned about 0.52% of SM Energy worth $14,806,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SM. Balyasny Asset Management L.P. purchased a new position in shares of SM Energy during the second quarter worth about $25,179,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of SM Energy by 182.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,082,414 shares of the energy company’s stock valued at $26,746,000 after acquiring an additional 699,115 shares during the period. Tributary Capital Management LLC grew its position in shares of SM Energy by 136.8% during the third quarter. Tributary Capital Management LLC now owns 1,185,762 shares of the energy company’s stock worth $29,608,000 after acquiring an additional 685,118 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of SM Energy by 16.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,731,350 shares of the energy company’s stock valued at $92,202,000 after acquiring an additional 524,105 shares during the period. Finally, Invesco Ltd. raised its position in SM Energy by 22.2% in the 2nd quarter. Invesco Ltd. now owns 2,289,314 shares of the energy company’s stock valued at $56,569,000 after purchasing an additional 415,454 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Price Performance

SM stock opened at $21.46 on Tuesday. The stock’s 50 day moving average price is $19.19 and its 200 day moving average price is $22.03. The firm has a market cap of $2.46 billion, a P/E ratio of 3.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.56 and a current ratio of 0.56. SM Energy Company has a 1 year low of $17.45 and a 1 year high of $39.99.

SM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, December 26th. SM Energy’s dividend payout ratio is 12.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SM shares. TD Cowen upgraded shares of SM Energy to a “strong-buy” rating in a research note on Monday, February 9th. Zacks Research cut SM Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. KeyCorp reduced their price objective on SM Energy from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Susquehanna lowered their target price on SM Energy from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, January 26th. Finally, Royal Bank Of Canada dropped their price target on shares of SM Energy from $35.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.20.

About SM Energy

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.