Posted by AM Reporter Staff on Aug 27th, 2022

State of Tennessee Treasury Department raised its stake in shares of SM Energy (NYSE:SM – Get Rating) by 34.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,694 shares of the energy company’s stock after acquiring an additional 21,609 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.07% of SM Energy worth $3,299,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SM. Frontier Capital Management Co. LLC acquired a new stake in shares of SM Energy during the first quarter worth $53,870,000. First Trust Advisors LP raised its holdings in shares of SM Energy by 252.4% during the fourth quarter. First Trust Advisors LP now owns 1,836,807 shares of the energy company’s stock worth $54,149,000 after purchasing an additional 1,315,566 shares during the period. Millennium Management LLC raised its holdings in shares of SM Energy by 47.4% during the fourth quarter. Millennium Management LLC now owns 3,242,209 shares of the energy company’s stock worth $95,580,000 after purchasing an additional 1,042,180 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of SM Energy during the fourth quarter worth $16,225,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of SM Energy by 94.5% during the first quarter. JPMorgan Chase & Co. now owns 1,071,135 shares of the energy company’s stock worth $41,721,000 after purchasing an additional 520,509 shares during the period. 86.45% of the stock is currently owned by institutional investors.

SM has been the topic of a number of analyst reports. Barclays increased their price objective on shares of SM Energy from $40.00 to $55.00 and gave the stock an “underweight” rating in a report on Tuesday, June 14th. MKM Partners reaffirmed a “buy” rating and issued a $54.00 price objective on shares of SM Energy in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.67.

NYSE SM opened at $45.30 on Friday. The company has a 50 day simple moving average of $37.65 and a 200-day simple moving average of $39.06. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 6.37 and a beta of 4.94. SM Energy has a 52-week low of $17.90 and a 52-week high of $54.97.

In other news, EVP David W. Copeland sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $51.23, for a total value of $256,150.00. Following the completion of the sale, the executive vice president now directly owns 188,722 shares of the company’s stock, valued at $9,668,228.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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