Pitcairn Co. Purchases 4,734 Shares of SM Energy (NYSE:SM)

Pitcairn Co. boosted its holdings in shares of SM Energy (NYSE:SM) by 29.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,046 shares of the energy company’s stock after buying an additional 4,734 shares during the period. Pitcairn Co.’s holdings in SM Energy were worth $841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Algert Global LLC increased its holdings in shares of SM Energy by 1,375.8% in the 3rd quarter. Algert Global LLC now owns 172,000 shares of the energy company’s stock worth $6,875,000 after buying an additional 160,345 shares during the last quarter. Cerity Partners LLC grew its position in SM Energy by 10.2% in the third quarter. Cerity Partners LLC now owns 48,119 shares of the energy company’s stock worth $1,923,000 after acquiring an additional 4,471 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in SM Energy by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,223,038 shares of the energy company’s stock valued at $48,885,000 after acquiring an additional 22,152 shares during the last quarter. Pacer Advisors Inc. raised its position in SM Energy by 2,515.6% during the third quarter. Pacer Advisors Inc. now owns 4,463,443 shares of the energy company’s stock valued at $178,404,000 after purchasing an additional 4,292,793 shares in the last quarter. Finally, Foundry Partners LLC lifted its stake in SM Energy by 26.0% during the third quarter. Foundry Partners LLC now owns 162,160 shares of the energy company’s stock worth $6,482,000 after purchasing an additional 33,486 shares during the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Trading Up 1.3 %

NYSE SM opened at $46.03 on Monday. The stock has a market cap of $5.27 billion, a P/E ratio of 6.43 and a beta of 4.18. SM Energy has a fifty-two week low of $34.13 and a fifty-two week high of $53.26. The stock has a 50 day simple moving average of $42.77 and a two-hundred day simple moving average of $44.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.52 and a current ratio of 3.52.

SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The business had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $643.67 million. During the same quarter in the previous year, the business posted $1.73 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts forecast that SM Energy will post 6.77 earnings per share for the current year.

SM Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were paid a $0.20 dividend. This is an increase from SM Energy’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Friday, October 25th. SM Energy’s dividend payout ratio is presently 11.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SM shares. Susquehanna decreased their price objective on SM Energy from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Mizuho lowered their price objective on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. upped their price objective on shares of SM Energy from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Truist Financial lowered their price target on shares of SM Energy from $46.00 to $38.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, TD Cowen raised SM Energy from a “hold” rating to a “buy” rating and reduced their price objective for the company from $64.00 to $60.00 in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.09.

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.