Peregrine Capital Management LLC Acquires Shares of 151,056 SM Energy (NYSE:SM)

Peregrine Capital Management LLC purchased a new position in SM Energy (NYSE:SM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 151,056 shares of the energy company’s stock, valued at approximately $6,530,000. Peregrine Capital Management LLC owned 0.13% of SM Energy as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. F M Investments LLC bought a new stake in shares of SM Energy in the second quarter worth approximately $4,676,000. Panagora Asset Management Inc. boosted its holdings in shares of SM Energy by 118.4% in the second quarter. Panagora Asset Management Inc. now owns 252,017 shares of the energy company’s stock worth $10,895,000 after buying an additional 136,628 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SM Energy by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,435 shares of the energy company’s stock worth $1,186,000 after buying an additional 1,910 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in shares of SM Energy in the second quarter worth approximately $230,000. Finally, Summit Securities Group LLC boosted its holdings in shares of SM Energy by 259,900.0% in the second quarter. Summit Securities Group LLC now owns 5,200 shares of the energy company’s stock worth $225,000 after buying an additional 5,198 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on SM shares. Truist Financial lowered their price target on shares of SM Energy from $49.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Tudor, Pickering, Holt & Co. upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. StockNews.com upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $54.00 price target on shares of SM Energy in a research report on Tuesday, July 9th. Finally, Mizuho boosted their price target on shares of SM Energy from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.22.

SM Energy Trading Down 2.8 %

Shares of SM traded down $1.33 during trading hours on Friday, reaching $45.63. 1,474,827 shares of the company traded hands, compared to its average volume of 1,731,111. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 7.15 and a beta of 4.20. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $44.98 and its 200 day moving average price is $46.55.

SM Energy (NYSE:SM) last issued its earnings results 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 analyst estimates of $616.63 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. Sell-side analysts forecast that SM Energy will post 7.09 earnings per share for the current year.

SM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, July 19th. SM Energy’s dividend payout ratio (DPR) is presently 11.29%.

SM Energy 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.