New York State Teachers Retirement System Has $3.91 Million Stock Position in SM Energy Company $SM

New York State Teachers Retirement System trimmed its position in SM Energy Company (NYSE:SM) by 9.6% in the second quarter, Holdings Channel.com reports. The firm owned 158,213 shares of the energy company’s stock after selling 16,848 shares during the period. New York State Teachers Retirement System’s holdings in SM Energy were worth $3,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in SM Energy by 69.5% in 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 period. Brooklyn Investment Group increased its position in SM Energy by 1,097.9% in the first quarter. Brooklyn Investment Group now owns 1,138 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,043 shares during the period. Flaharty Asset Management LLC acquired a new stake in SM Energy in the first quarter worth about $45,000. MassMutual Private Wealth & Trust FSB increased its position in SM Energy by 332.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,887 shares of the energy company’s stock worth $47,000 after purchasing an additional 1,451 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in SM Energy by 73.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,899 shares of the energy company’s stock worth $57,000 after purchasing an additional 802 shares during the period. 94.56% of the stock is currently owned by institutional investors and hedge funds.

SM Energy Trading Up 0.1%

NYSE:SM opened at $21.28 on Tuesday. SM Energy Company has a fifty-two week low of $19.67 and a fifty-two week high of $46.42. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $2.45 billion, a PE ratio of 3.00 and a beta of 2.30. The business’s 50-day simple moving average is $26.07 and its 200-day simple moving average is $25.33.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.27. SM Energy had a return on equity of 18.06% and a net margin of 25.94%.The business had revenue of $792.94 million for the quarter, compared to analysts’ expectations of $792.58 million. During the same quarter in the previous year, the business posted $1.85 EPS. SM Energy’s revenue for the quarter was up 25.0% on a year-over-year basis. Sell-side analysts expect that SM Energy Company will post 8.1 earnings per share for the current fiscal year.

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, October 17th. SM Energy’s payout ratio is 11.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SM. Weiss Ratings restated a “hold (c-)” rating on shares of SM Energy in a report on Wednesday, October 8th. Susquehanna reduced their target price on SM Energy to $27.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company reduced their target price on SM Energy from $30.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday. Zacks Research cut SM Energy from a “hold” rating to a “strong sell” rating in a report on Friday, October 3rd. Finally, Raymond James Financial cut SM Energy from an “outperform” rating to an “underperform” rating in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.50.

SM Energy Company Profile

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.