Geode Capital Management LLC Purchases 29,911 Shares of SM Energy (NYSE:SM)

Geode Capital Management LLC boosted its position in shares of SM Energy (NYSE:SM) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,693,372 shares of the energy company’s stock after acquiring an additional 29,911 shares during the period. Geode Capital Management LLC’s holdings in SM Energy were worth $107,675,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SM. Plato Investment Management Ltd boosted its position in shares of SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after acquiring an additional 485 shares during the period. Harbor Capital Advisors Inc. acquired a new position in SM Energy during the 3rd quarter valued at $30,000. Blue Trust Inc. boosted its holdings in SM Energy by 3,434.5% in the 3rd quarter. Blue Trust Inc. now owns 1,025 shares of the energy company’s stock valued at $44,000 after purchasing an additional 996 shares during the period. Millburn Ridgefield Corp acquired a new stake in SM Energy in the 3rd quarter worth $55,000. Finally, International Assets Investment Management LLC increased its holdings in shares of SM Energy by 3,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company’s stock worth $58,000 after purchasing an additional 1,403 shares during the period. 94.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of SM Energy from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Tudor Pickering raised SM Energy to a “strong-buy” rating in a report on Wednesday, August 21st. BMO Capital Markets lowered their price objective on SM Energy from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $53.00 target price (up from $51.00) on shares of SM Energy in a research report on Wednesday, December 4th. Finally, TD Cowen raised shares of SM Energy from a “hold” rating to a “buy” rating and lowered their price target for the company from $64.00 to $60.00 in a report on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.64.

SM Energy Stock Down 4.4 %

SM opened at $37.15 on Thursday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 5.19 and a beta of 4.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.52 and a current ratio of 3.52. The firm’s 50-day simple moving average is $42.80 and its 200-day simple moving average is $43.78. SM Energy has a twelve month low of $34.76 and a twelve month high of $53.26.

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

SM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 25th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.15%. This is a boost from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, October 25th. SM Energy’s dividend payout ratio (DPR) is currently 11.17%.

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 has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.