Fifth Third Bancorp Purchases 76,660 Shares of SM Energy Company $SM

Fifth Third Bancorp raised its position in SM Energy Company (NYSE:SM) by 6,620.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,818 shares of the energy company’s stock after acquiring an additional 76,660 shares during the quarter. Fifth Third Bancorp’s holdings in SM Energy were worth $2,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SM. NBC Securities Inc. increased its holdings in SM Energy by 160.5% during the fourth quarter. NBC Securities Inc. now owns 1,347 shares of the energy company’s stock valued at $25,000 after buying an additional 830 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of SM Energy by 10,461.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,373 shares of the energy company’s stock worth $26,000 after purchasing an additional 1,360 shares in the last quarter. Torren Management LLC raised its holdings in SM Energy by 4,561.1% in the 1st 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 raised its holdings in SM Energy by 62.9% in the 4th 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, Johnson Financial Group Inc. purchased a new position in SM Energy during the third quarter valued at $31,000. 94.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SM Energy news, Director Ramiro G. Peru sold 24,553 shares of SM Energy 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 owned 65,964 shares of the company’s stock, valued at $2,241,456.72. The trade was a 27.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.45% of the stock is owned by corporate insiders.

SM Energy Price Performance

SM stock opened at $32.23 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The company’s fifty day moving average price is $30.13 and its 200-day moving average price is $26.60. SM Energy Company has a one year low of $17.45 and a one year high of $35.88. The company has a market capitalization of $7.73 billion, a PE ratio of 13.54 and a beta of 0.73.

SM Energy (NYSE:SM) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.42. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%. SM Energy’s quarterly revenue was up 75.0% on a year-over-year basis. During the same period last year, the company posted $1.76 earnings per share. On average, equities analysts anticipate that SM Energy Company will post 7.21 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, June 8th. SM Energy’s dividend payout ratio (DPR) is currently 36.97%.

Analysts Set New Price Targets

SM has been the subject of a number of analyst reports. Zacks Research cut SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. BMO Capital Markets lifted their price objective on SM Energy from $26.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, April 2nd. Wells Fargo & Company raised their target price on shares of SM Energy from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, May 18th. UBS Group initiated coverage on shares of SM Energy in a research report on Tuesday, July 14th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Truist Financial reduced their price objective on shares of SM Energy from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.53.

SM Energy 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.