Townsquare Capital LLC Raises Stock Holdings in SM Energy (NYSE:SM)

Townsquare Capital LLC boosted its holdings in SM Energy (NYSE:SM) by 267.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 391,107 shares of the energy company’s stock after acquiring an additional 284,665 shares during the period. Townsquare Capital LLC’s holdings in SM Energy were worth $15,633,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC raised its position in SM Energy by 79.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 65,421 shares of the energy company’s stock worth $2,615,000 after buying an additional 28,920 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of SM Energy by 4.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock valued at $25,646,000 after purchasing an additional 27,405 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of SM Energy by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 764,118 shares of the energy company’s stock valued at $38,093,000 after purchasing an additional 124,450 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of SM Energy by 144.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 22,357 shares of the energy company’s stock valued at $894,000 after purchasing an additional 13,215 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of SM Energy by 82.2% during the 2nd quarter. Mackenzie Financial Corp now owns 411,103 shares of the energy company’s stock valued at $17,772,000 after purchasing an additional 185,433 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Trading Down 1.1 %

SM stock opened at $44.63 on Wednesday. SM Energy has a 1-year low of $34.13 and a 1-year high of $53.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.52 and a quick ratio of 3.52. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 6.23 and a beta of 4.18. The business has a 50 day simple moving average of $42.88 and a two-hundred day simple moving average of $44.59.

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

SM Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a dividend of $0.20 per share. 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 dividend yield of 1.79%. The ex-dividend date was Friday, October 25th. SM Energy’s dividend payout ratio is currently 11.17%.

Analyst Ratings Changes

Several equities research analysts have recently commented on SM shares. Truist Financial reduced 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 report on Monday, September 30th. TD Cowen raised shares of SM Energy from a “hold” rating to a “buy” rating and reduced their price target for the company from $64.00 to $60.00 in a research report on Tuesday, October 15th. KeyCorp cut their price objective on SM Energy from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Tudor, Pickering, Holt & Co. upgraded SM Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a research note on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.09.

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.