Hsbc Holdings PLC increased its holdings in shares of SM Energy (NYSE:SM – Get Rating) by 289.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,322 shares of the energy company’s stock after buying an additional 85,697 shares during the quarter. Hsbc Holdings PLC owned 0.09% of SM Energy worth $4,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in SM Energy by 88.5% during the 1st quarter. Invesco Ltd. now owns 2,229,142 shares of the energy company’s stock valued at $86,825,000 after purchasing an additional 1,046,602 shares during the last quarter. Renaissance Technologies LLC grew its stake in SM Energy by 405.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,183,200 shares of the energy company’s stock valued at $46,086,000 after purchasing an additional 948,900 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in SM Energy by 35.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,249,967 shares of the energy company’s stock valued at $126,586,000 after purchasing an additional 849,019 shares during the last quarter. State Street Corp grew its stake in SM Energy by 13.7% during the 1st quarter. State Street Corp now owns 7,002,705 shares of the energy company’s stock valued at $272,755,000 after purchasing an additional 842,589 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in SM Energy by 65.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,776,381 shares of the energy company’s stock valued at $60,735,000 after purchasing an additional 705,246 shares during the last quarter. 89.45% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SM has been the topic of several research analyst reports. Raymond James dropped their price target on SM Energy from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, January 26th. KeyCorp lowered their target price on SM Energy from $64.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, December 8th. Royal Bank of Canada upped their target price on SM Energy from $53.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Monday, November 14th. Mizuho initiated coverage on SM Energy in a research note on Monday, January 9th. They issued a “buy” rating and a $51.00 target price on the stock. Finally, StockNews.com upgraded SM Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, SM Energy has an average rating of “Moderate Buy” and an average price target of $49.00.
SM Energy Stock Performance
SM Energy (NYSE:SM – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The energy company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.08. The company had revenue of $671.32 million during the quarter, compared to analysts’ expectations of $614.72 million. SM Energy had a return on equity of 34.40% and a net margin of 33.11%. SM Energy’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Sell-side analysts anticipate that SM Energy will post 6.38 EPS for the current fiscal year.
SM Energy Dividend Announcement
The firm also recently declared a Semi-Annual dividend, which was paid on Monday, February 6th. Investors of record on Friday, January 20th were issued a $0.15 dividend. The ex-dividend date was Thursday, January 19th. This represents a yield of 0.9%. SM Energy’s payout ratio is 3.35%.
SM Energy Profile
SM Energy Co is an independent energy company, which engages in the acquisition, exploration, development, and production of crude oil, natural gas and natural gas liquids. Its operations are located in Midland Basin and South Texas. The company was founded in 1908 and is headquartered in Denver, CO.
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