Principal Financial Group Inc. decreased its position in shares of SM Energy (NYSE:SM – Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 772,491 shares of the energy company’s stock after selling 16,057 shares during the quarter. Principal Financial Group Inc. owned about 0.64% of SM Energy worth $21,753,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in SM. IFP Advisors Inc raised its holdings in SM Energy by 152.6% during the 4th quarter. IFP Advisors Inc now owns 1,526 shares of the energy company’s stock worth $40,000 after purchasing an additional 922 shares during the last quarter. Signaturefd LLC increased its stake in shares of SM Energy by 107.3% in the 1st quarter. Signaturefd LLC now owns 1,851 shares of the energy company’s stock valued at $52,000 after acquiring an additional 958 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of SM Energy in the 4th quarter valued at $68,000. US Asset Management LLC bought a new stake in shares of SM Energy in the 4th quarter valued at $89,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of SM Energy in the 1st quarter valued at $110,000. Institutional investors own 89.10% of the company’s stock.
SM Energy Stock Performance
Shares of SM stock opened at $40.55 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.81 billion, a PE ratio of 4.59 and a beta of 4.39. The firm has a fifty day simple moving average of $34.55 and a two-hundred day simple moving average of $30.68. SM Energy has a 12 month low of $24.66 and a 12 month high of $48.55.
SM Energy Dividend Announcement
The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 7th. Shareholders of record on Friday, July 21st were issued a dividend of $0.15 per share. This represents a yield of 1%. The ex-dividend date was Thursday, July 20th. SM Energy’s dividend payout ratio is 6.80%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on SM shares. Mizuho lifted their price objective on shares of SM Energy from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. StockNews.com started coverage on shares of SM Energy in a research note on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet upgraded shares of SM Energy from a “c+” rating to a “b-” rating in a research note on Monday, July 10th. Susquehanna lifted their price objective on shares of SM Energy from $30.00 to $32.00 in a research note on Thursday, June 22nd. Finally, JPMorgan Chase & Co. upgraded shares of SM Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $47.00 in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.60.
Read Our Latest Research Report on SM Energy
Insiders Place Their Bets
In other SM Energy news, CAO Patrick A. Lytle sold 6,494 shares of SM Energy stock in a transaction on Monday, August 7th. The shares were sold at an average price of $38.46, for a total transaction of $249,759.24. Following the transaction, the chief accounting officer now directly owns 10,098 shares of the company’s stock, valued at approximately $388,369.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.
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 also has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.
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