Allspring Global Investments Holdings LLC Increases Position in SM Energy (NYSE:SM)

Posted by Defense World Staff on Oct 4th, 2023

Allspring Global Investments Holdings LLC boosted its holdings in SM Energy (NYSE:SM – Free Report) by 136.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 547,297 shares of the energy company’s stock after purchasing an additional 315,973 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.45% of SM Energy worth $17,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eaton Vance Management lifted its stake in shares of SM Energy by 3.8% in the first quarter. Eaton Vance Management now owns 8,361 shares of the energy company’s stock worth $326,000 after buying an additional 309 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in SM Energy by 4.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,630 shares of the energy company’s stock worth $266,000 after purchasing an additional 326 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in SM Energy by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 48,824 shares of the energy company’s stock worth $1,701,000 after purchasing an additional 506 shares during the last quarter. Insight Wealth Strategies LLC boosted its holdings in SM Energy by 1.3% in the second quarter. Insight Wealth Strategies LLC now owns 39,118 shares of the energy company’s stock worth $1,237,000 after purchasing an additional 518 shares during the last quarter. Finally, Pathstone Family Office LLC boosted its holdings in SM Energy by 7.9% in the third quarter. Pathstone Family Office LLC now owns 8,516 shares of the energy company’s stock worth $320,000 after purchasing an additional 624 shares during the last quarter. Institutional investors own 91.26% of the company’s stock.

Insider Buying and Selling at SM Energy

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 value of $249,759.24. Following the sale, the chief accounting officer now directly owns 10,098 shares in the company, valued at approximately $388,369.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $249,759.24. Following the sale, the chief accounting officer now directly owns 10,098 shares in the company, valued at approximately $388,369.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 15,670 shares of SM Energy stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $41.14, for a total transaction of $644,663.80. Following the completion of the sale, the director now owns 73,685 shares in the company, valued at $3,031,400.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,164 shares of company stock worth $2,083,923. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SM shares. Royal Bank of Canada raised their target price on shares of SM Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 30th. Raymond James raised their target price on shares of SM Energy from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Susquehanna raised their target price on shares of SM Energy from $30.00 to $32.00 in a report on Thursday, June 22nd. TheStreet upgraded shares of SM Energy from a “c+” rating to a “b-” rating in a report on Monday, July 10th. Finally, JPMorgan Chase & Co. upgraded shares of SM Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.30.

Read Our Latest Report on SM

SM Energy Stock Up 0.6 %

Shares of SM stock opened at $38.09 on Wednesday. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 4.31 and a beta of 4.32. SM Energy has a one year low of $24.66 and a one year high of $48.55. The company’s fifty day moving average price is $39.51 and its 200-day moving average price is $32.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 1.20.

SM Energy (NYSE:SM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The energy company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.02 by $0.26. The firm had revenue of $550.75 million for the quarter, compared to the consensus estimate of $555.46 million. SM Energy had a net margin of 41.36% and a return on equity of 22.48%. Sell-side analysts expect that SM Energy will post 5.66 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, November 6th. Stockholders of record on Tuesday, October 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, October 23rd. This represents a dividend yield of 0.8%. SM Energy’s payout ratio is 6.80%.

SM Energy Profile

(Free Report)

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.