Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of SM Energy Co (NYSE:SM) by 26.3% in the 1st quarter, Holdings Channel reports. The firm owned 5,742 shares of the energy company’s stock after selling 2,054 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SM Energy were worth $100,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. lifted its stake in SM Energy by 0.3% in the 4th quarter. American International Group Inc. now owns 210,436 shares of the energy company’s stock worth $3,258,000 after acquiring an additional 576 shares in the last quarter. Retirement Systems of Alabama lifted its stake in SM Energy by 0.5% in the 1st quarter. Retirement Systems of Alabama now owns 134,423 shares of the energy company’s stock worth $2,351,000 after acquiring an additional 654 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in SM Energy by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,843 shares of the energy company’s stock worth $632,000 after acquiring an additional 738 shares in the last quarter. Arizona State Retirement System lifted its stake in SM Energy by 1.1% in the 4th quarter. Arizona State Retirement System now owns 74,050 shares of the energy company’s stock worth $1,146,000 after acquiring an additional 796 shares in the last quarter. Finally, Comerica Bank lifted its stake in SM Energy by 1.2% in the 4th quarter. Comerica Bank now owns 70,889 shares of the energy company’s stock worth $1,395,000 after acquiring an additional 828 shares in the last quarter.
SM stock traded down $0.27 during mid-day trading on Friday, hitting $12.73. The stock had a trading volume of 2,954,952 shares, compared to its average volume of 2,594,850. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41. SM Energy Co has a 1-year low of $12.55 and a 1-year high of $33.76. The firm has a market cap of $1.43 billion, a P/E ratio of 424.33 and a beta of 3.03.
The company also recently announced a semiannual dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, April 26th were given a $0.05 dividend. This represents a yield of 0.58%. The ex-dividend date of this dividend was Thursday, April 25th. SM Energy’s payout ratio is currently 333.33%.
Several brokerages recently issued reports on SM. Capital One Financial raised SM Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday. TheStreet downgraded SM Energy from a “c” rating to a “d+” rating in a research note on Thursday, May 16th. Barclays set a $18.00 price objective on SM Energy and gave the stock a “hold” rating in a research note on Friday, May 17th. ValuEngine downgraded SM Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Susquehanna Bancshares reissued a “neutral” rating and issued a $20.00 price objective (down from $21.00) on shares of SM Energy in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.88.
In other news, CEO Javan D. Ottoson bought 5,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $14.63 per share, with a total value of $73,150.00. Following the transaction, the chief executive officer now directly owns 182,126 shares in the company, valued at approximately $2,664,503.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
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SM Energy Company Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.
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