Oslo Asset Management AS Sells 30,000 Shares of SM Energy (NYSE:SM)

Oslo Asset Management AS lessened its stake in SM Energy (NYSE:SM) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,108 shares of the energy company’s stock after selling 30,000 shares during the quarter. SM Energy comprises approximately 14.5% of Oslo Asset Management AS’s holdings, making the stock its biggest holding. Oslo Asset Management AS’s holdings in SM Energy were worth $12,541,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV lifted its holdings in shares of SM Energy by 1.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 57,320 shares of the energy company’s stock valued at $2,478,000 after acquiring an additional 613 shares in the last quarter. Virtu Financial LLC acquired a new position in SM Energy in the 2nd quarter worth $1,113,000. Dimensional Fund Advisors LP lifted its holdings in SM Energy by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock worth $274,161,000 after buying an additional 384,675 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in SM Energy by 461.9% in the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock worth $26,000 after buying an additional 485 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in SM Energy by 15.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 566,099 shares of the energy company’s stock worth $24,472,000 after buying an additional 75,754 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stephens reiterated an “overweight” rating and issued a $63.00 price objective on shares of SM Energy in a report on Thursday, June 27th. Truist Financial dropped their target price on shares of SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Mizuho dropped their target price on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday. Tudor Pickering raised shares of SM Energy to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company dropped their target price on shares of SM Energy from $50.00 to $48.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.22.

SM Energy Trading Up 1.7 %

Shares of SM Energy stock opened at $40.51 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $4.66 billion, a P/E ratio of 6.35 and a beta of 4.19. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The company has a 50-day simple moving average of $43.86 and a 200 day simple moving average of $46.71.

SM Energy (NYSE:SM) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. The firm had revenue of $634.56 million during the quarter, compared to analysts’ expectations of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. Research analysts expect that SM Energy will post 7.57 earnings per share for the current fiscal year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, July 19th. SM Energy’s payout ratio is presently 11.29%.

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.