Sippican Capital Advisors increased its stake in shares of SM Energy Co (NYSE:SM) by 19.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 53,980 shares of the energy company’s stock after acquiring an additional 8,688 shares during the quarter. Sippican Capital Advisors’ holdings in SM Energy were worth $523,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in SM Energy by 31.0% in the second quarter. BlackRock Inc. now owns 12,334,776 shares of the energy company’s stock worth $154,433,000 after purchasing an additional 2,921,362 shares during the last quarter. Atria Investments LLC purchased a new position in SM Energy in the second quarter worth $41,961,000. Vanguard Group Inc. boosted its position in SM Energy by 5.6% in the second quarter. Vanguard Group Inc. now owns 10,926,493 shares of the energy company’s stock worth $136,799,000 after purchasing an additional 582,176 shares during the last quarter. Macquarie Group Ltd. boosted its position in SM Energy by 15.3% in the second quarter. Macquarie Group Ltd. now owns 3,985,054 shares of the energy company’s stock worth $49,893,000 after purchasing an additional 529,277 shares during the last quarter. Finally, Oslo Asset Management AS boosted its position in SM Energy by 18.8% in the second quarter. Oslo Asset Management AS now owns 2,956,528 shares of the energy company’s stock worth $37,016,000 after purchasing an additional 467,185 shares during the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.
Shares of NYSE SM traded down $0.22 during trading on Thursday, reaching $7.49. 109,020 shares of the stock traded hands, compared to its average volume of 3,971,307. SM Energy Co has a 52-week low of $7.50 and a 52-week high of $30.95. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.57 and a quick ratio of 0.57. The company has a 50-day moving average of $9.64 and a 200-day moving average of $12.08. The stock has a market capitalization of $878.03 million, a P/E ratio of 250.33 and a beta of 2.92.
SM Energy (NYSE:SM) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.13. SM Energy had a negative return on equity of 2.07% and a net margin of 2.91%. The firm had revenue of $407.17 million for the quarter, compared to analysts’ expectations of $407.53 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Analysts expect that SM Energy Co will post -0.43 earnings per share for the current fiscal year.
The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Friday, October 25th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, October 24th. This represents a dividend yield of 1%. SM Energy’s dividend payout ratio is presently 333.33%.
Several research analysts have weighed in on the company. B. Riley set a $14.00 price objective on SM Energy and gave the stock a “hold” rating in a research report on Wednesday, June 19th. Seaport Global Securities cut SM Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Barclays cut their price objective on SM Energy from $13.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, August 30th. SunTrust Banks assumed coverage on SM Energy in a research report on Tuesday, July 30th. They issued a “hold” rating and a $10.00 price objective on the stock. Finally, Susquehanna Bancshares set a $13.00 price objective on SM Energy and gave the stock a “hold” rating in a research report on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.50.
SM Energy Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.
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