SM Energy Company $SM Stock Position Decreased by Citigroup Inc.

Citigroup Inc. trimmed its stake in SM Energy Company (NYSE:SM) by 14.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,652 shares of the energy company’s stock after selling 23,660 shares during the quarter. Citigroup Inc. owned approximately 0.13% of SM Energy worth $3,587,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SM. American Century Companies Inc. increased its stake in SM Energy by 7.7% in the 2nd quarter. American Century Companies Inc. now owns 4,209,870 shares of the energy company’s stock worth $104,026,000 after purchasing an additional 300,866 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of SM Energy by 16.3% in the second quarter. Westwood Holdings Group Inc. now owns 3,731,350 shares of the energy company’s stock worth $92,202,000 after buying an additional 524,105 shares during the period. Geode Capital Management LLC increased its position in shares of SM Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,710,106 shares of the energy company’s stock worth $66,979,000 after acquiring an additional 17,930 shares in the last quarter. Invesco Ltd. increased its position in shares of SM Energy by 22.2% in the second quarter. Invesco Ltd. now owns 2,289,314 shares of the energy company’s stock worth $56,569,000 after acquiring an additional 415,454 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of SM Energy by 19.9% during the third quarter. Congress Asset Management Co. now owns 1,212,775 shares of the energy company’s stock valued at $30,283,000 after acquiring an additional 201,704 shares during the period. 94.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SM has been the subject of a number of recent analyst reports. Zacks Research raised shares of SM Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. TD Cowen upgraded SM Energy to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings lowered SM Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. KeyCorp decreased their price objective on SM Energy from $36.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Finally, Siebert Williams Shank cut SM Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.22.

SM Energy Trading Up 4.6%

Shares of NYSE SM opened at $25.66 on Friday. The business has a 50 day simple moving average of $20.25 and a 200 day simple moving average of $21.79. SM Energy Company has a 52 week low of $17.45 and a 52 week high of $32.26. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 4.54 and a beta of 1.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.69 and a current ratio of 0.69.

SM Energy (NYSE:SM) last posted its earnings results on Wednesday, February 25th. The energy company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.73 by $0.10. The firm had revenue of $704.92 million for the quarter, compared to the consensus estimate of $764.40 million. SM Energy had a net margin of 20.55% and a return on equity of 13.47%. The business’s quarterly revenue was down 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 earnings per share. On average, research analysts predict that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.88 annualized dividend and a yield of 3.4%. This is an increase from SM Energy’s previous quarterly dividend of $0.20. SM Energy’s dividend payout ratio (DPR) is presently 14.16%.

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.