Tributary Capital Management LLC Acquires 1,623 Shares of SM Energy (NYSE:SM)

Tributary Capital Management LLC increased its holdings in SM Energy (NYSE:SM) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 569,348 shares of the energy company’s stock after purchasing an additional 1,623 shares during the quarter. SM Energy accounts for about 2.0% of Tributary Capital Management LLC’s holdings, making the stock its 10th largest holding. Tributary Capital Management LLC owned 0.50% of SM Energy worth $24,613,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its holdings in SM Energy by 54.9% in the 1st quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock worth $29,000 after buying an additional 206 shares during the last quarter. CWM LLC increased its position in shares of SM Energy by 11.3% during the fourth quarter. CWM LLC now owns 2,683 shares of the energy company’s stock worth $104,000 after purchasing an additional 272 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in SM Energy by 2.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,045 shares of the energy company’s stock worth $477,000 after purchasing an additional 300 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of SM Energy by 66.8% during the first quarter. UMB Bank n.a. now owns 829 shares of the energy company’s stock worth $41,000 after buying an additional 332 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of SM Energy by 63.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock worth $38,000 after buying an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Wall Street Analyst Weigh In

SM has been the topic of several recent research reports. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a report on Wednesday. Truist Financial dropped their target price on SM Energy from $49.00 to $46.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Mizuho lifted their price target on SM Energy from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $54.00 price objective on shares of SM Energy in a report on Tuesday, July 9th. Finally, Wells Fargo & Company reduced their target price on shares of SM Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SM Energy presently has an average rating of “Moderate Buy” and an average price target of $54.22.

SM Energy Trading Up 3.4 %

Shares of SM stock traded up $1.51 on Friday, hitting $45.81. The stock had a trading volume of 1,262,706 shares, compared to its average volume of 1,748,111. The company’s 50 day moving average price is $45.05 and its 200-day moving average price is $46.27. SM Energy has a 1 year low of $34.13 and a 1 year high of $53.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $5.27 billion, a P/E ratio of 7.18 and a beta of 4.20.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.28. The business had revenue of $634.56 million for the quarter, compared to analysts’ expectations of $616.63 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. Analysts anticipate that SM Energy will post 7.09 earnings per share for the current year.

SM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were paid a $0.18 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.57%. SM Energy’s dividend payout ratio (DPR) is 11.29%.

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.