Maryland State Retirement & Pension System Purchases 19,858 Shares of SM Energy Company $SM

Maryland State Retirement & Pension System lifted its position in shares of SM Energy Company (NYSE:SM) by 59.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,985 shares of the energy company’s stock after purchasing an additional 19,858 shares during the period. Maryland State Retirement & Pension System’s holdings in SM Energy were worth $1,790,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Kilter Group LLC purchased a new position in SM Energy during the 2nd quarter valued at about $28,000. Heritage Family Offices LLP purchased a new stake in SM Energy in the 3rd quarter worth approximately $30,000. CoreCap Advisors LLC lifted its holdings in SM Energy by 211.2% in the 3rd quarter. CoreCap Advisors LLC now owns 974 shares of the energy company’s stock worth $33,000 after buying an additional 661 shares during the period. Assetmark Inc. bought a new stake in shares of SM Energy in the 1st quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of SM Energy by 332.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,129 shares of the energy company’s stock worth $35,000 after buying an additional 868 shares during the last quarter. 94.56% of the stock is owned by institutional investors.

SM Energy Trading Down 0.2%

Shares of NYSE SM traded down $0.07 during midday trading on Friday, hitting $32.70. 2,957,662 shares of the company traded hands, compared to its average volume of 3,340,226. SM Energy Company has a 12-month low of $17.45 and a 12-month high of $41.56. The firm has a market cap of $7.69 billion, a P/E ratio of 7.94 and a beta of 0.80. The stock has a 50-day moving average price of $36.16 and a 200 day moving average price of $30.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Tuesday, November 3rd. The energy company reported $1.95 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.06). SM Energy had a return on equity of 20.48% and a net margin of 13.69%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the business earned $1.33 earnings per share. The business’s quarterly revenue was up 167.2% on a year-over-year basis. As a group, analysts expect that SM Energy Company will post 8.00 earnings per share for the current year.

SM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 7th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. SM Energy’s dividend payout ratio is 21.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SM. Truist Financial reduced their target price on SM Energy from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Seaport Research Partners started coverage on SM Energy in a research note on Thursday, September 3rd. They issued a “sell” rating and a $35.00 price target for the company. Wall Street Zen lowered SM Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. Scotiabank initiated coverage on shares of SM Energy in a report on Wednesday, October 14th. They issued a “sector perform” rating and a $39.00 price target on the stock. Finally, Raymond James Financial reissued an “outperform” rating and set a $50.00 price objective on shares of SM Energy in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.82.

Insider Buying and Selling

In other news, Director Ashwin Venkatraman sold 3,650 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $38.28, for a total value of $139,722.00. Following the completion of the transaction, the director owned 12,525 shares in the company, valued at $479,457. This trade represents a 22.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Barker Lebeck sold 17,500 shares of SM Energy stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $37.02, for a total value of $647,850.00. Following the sale, the executive vice president owned 14,705 shares in the company, valued at $544,379.10. This represents a 54.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.45% of the stock is currently owned by corporate insiders.

About SM Energy

SM Energy Company is an independent oil and gas company focused on acquiring, exploring, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated in Texas, including the Midland Basin in the Permian Basin and the South Texas region. The company’s business includes developing oil and gas properties and managing the infrastructure and operations needed to bring production to market. Its portfolio has evolved over time as SM Energy has made acquisitions and divested assets to focus on its core areas.