Los Angeles Capital Management LLC Has $2.62 Million Stake in SM Energy (NYSE:SM)

Los Angeles Capital Management LLC boosted its holdings in shares of SM Energy (NYSE:SM) by 79.2% during the third quarter, Holdings Channel reports. The institutional investor owned 65,421 shares of the energy company’s stock after acquiring an additional 28,920 shares during the quarter. Los Angeles Capital Management LLC’s holdings in SM Energy were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D lifted its stake in SM Energy by 1.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 42,249 shares of the energy company’s stock worth $1,689,000 after purchasing an additional 752 shares during the period. Meritage Portfolio Management raised its holdings in shares of SM Energy by 9.2% in the 3rd quarter. Meritage Portfolio Management now owns 11,453 shares of the energy company’s stock worth $458,000 after buying an additional 965 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of SM Energy during the 3rd quarter worth approximately $380,000. Atria Investments Inc boosted its stake in SM Energy by 4.4% in the 3rd quarter. Atria Investments Inc now owns 22,916 shares of the energy company’s stock valued at $916,000 after buying an additional 961 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new stake in SM Energy in the 3rd quarter valued at $200,000. Institutional investors own 94.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SM. Truist Financial cut their price objective on SM Energy from $46.00 to $38.00 and set a “hold” rating for the company in a report on Monday, September 30th. StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price objective on shares of SM Energy in a research note on Tuesday, October 8th. Stephens lifted their target price on shares of SM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on SM Energy from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Six investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.73.

SM Energy Trading Down 1.3 %

Shares of SM opened at $43.45 on Wednesday. The stock’s fifty day simple moving average is $42.03 and its 200-day simple moving average is $44.92. The firm has a market capitalization of $4.97 billion, a PE ratio of 6.07 and a beta of 4.18. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The company has a quick ratio of 1.29, a current ratio of 3.52 and a debt-to-equity ratio of 0.67.

SM Energy (NYSE:SM) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. The firm had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $643.67 million. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. As a group, research analysts predict that SM Energy will post 6.77 earnings per share for the current year.

SM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, October 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.84%. This is a boost from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s payout ratio is currently 11.17%.

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.