Empowered Funds LLC Reduces Position in SM Energy (NYSE:SM)

Empowered Funds LLC lowered its position in shares of SM Energy (NYSE:SM) by 44.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,476 shares of the energy company’s stock after selling 87,788 shares during the period. Empowered Funds LLC owned 0.10% of SM Energy worth $4,321,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SM. Pacer Advisors Inc. boosted its position in shares of SM Energy by 2,515.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,463,443 shares of the energy company’s stock worth $178,404,000 after acquiring an additional 4,292,793 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in SM Energy by 2,217.1% in the third quarter. Assenagon Asset Management S.A. now owns 818,032 shares of the energy company’s stock valued at $32,697,000 after purchasing an additional 782,728 shares in the last quarter. Townsquare Capital LLC increased its stake in SM Energy by 267.4% in the third quarter. Townsquare Capital LLC now owns 391,107 shares of the energy company’s stock valued at $15,633,000 after purchasing an additional 284,665 shares during the last quarter. Bridgewater Associates LP raised its holdings in SM Energy by 136.5% during the third quarter. Bridgewater Associates LP now owns 484,119 shares of the energy company’s stock worth $19,350,000 after purchasing an additional 279,417 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of SM Energy by 1,375.8% during the 3rd quarter. Algert Global LLC now owns 172,000 shares of the energy company’s stock worth $6,875,000 after buying an additional 160,345 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Price Performance

Shares of NYSE SM opened at $40.59 on Wednesday. The stock has a fifty day moving average price of $40.11 and a 200 day moving average price of $42.06. SM Energy has a 1-year low of $36.13 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 cap of $4.64 billion, a PE ratio of 5.67 and a beta of 4.11.

SM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 24th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, January 24th. SM Energy’s dividend payout ratio (DPR) is presently 11.17%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SM. Truist Financial lifted their price target on shares of SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Susquehanna cut their target price on SM Energy from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. TD Cowen raised SM Energy from a “hold” rating to a “buy” rating and decreased their target price for the company from $64.00 to $60.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $53.00 price target (up previously from $51.00) on shares of SM Energy in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company decreased their price objective on SM Energy from $47.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.90.

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.