Pekin Hardy Strauss Inc. Grows Position in SM Energy Company $SM

Pekin Hardy Strauss Inc. increased its stake in SM Energy Company (NYSE:SM) by 63.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,006 shares of the energy company’s stock after purchasing an additional 118,291 shares during the quarter. SM Energy accounts for 0.9% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 27th largest position. Pekin Hardy Strauss Inc. owned approximately 0.27% of SM Energy worth $7,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings 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 purchasing an additional 417 shares during the last quarter. Brooklyn Investment Group increased its position in shares of SM Energy by 1,097.9% in the first quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company’s stock valued at $34,000 after buying an additional 1,043 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of SM Energy during the 1st quarter worth $45,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of SM Energy by 332.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,887 shares of the energy company’s stock worth $47,000 after buying an additional 1,451 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in SM Energy by 73.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,899 shares of the energy company’s stock valued at $57,000 after acquiring an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut 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 report on Friday, October 17th. Royal Bank Of Canada upped their target price on SM Energy from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Roth Capital set a $28.00 target price on SM Energy in a report on Monday. Mizuho set a $38.00 price target on SM Energy in a report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SM Energy in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.64.

SM Energy Trading Up 0.4%

Shares of SM opened at $17.92 on Friday. SM Energy Company has a fifty-two week low of $17.58 and a fifty-two week high of $46.42. The stock has a fifty day moving average of $24.29 and a two-hundred day moving average of $25.12. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $2.06 billion, a PE ratio of 2.53 and a beta of 2.29.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Tuesday, November 4th. The energy company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.25 by $0.08. SM Energy had a return on equity of 18.06% and a net margin of 25.94%.The company had revenue of $811.59 million during the quarter, compared to analyst estimates of $838.24 million. During the same period in the prior year, the firm posted $1.62 earnings per share. The firm’s revenue was up 26.1% on a year-over-year basis. As a group, analysts forecast that SM Energy Company will post 8.1 EPS for the current year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Friday, October 17th. SM Energy’s dividend payout ratio (DPR) is 12.62%.

About SM Energy

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.