Trust Point Inc. Sells 3,058 Shares of SM Energy (NYSE:SM)

Trust Point Inc. cut its stake in SM Energy (NYSE:SM) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,819 shares of the energy company’s stock after selling 3,058 shares during the quarter. Trust Point Inc.’s holdings in SM Energy were worth $884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC lifted its stake in shares of SM Energy by 11.4% during the 3rd quarter. CWM LLC now owns 2,853 shares of the energy company’s stock worth $114,000 after acquiring an additional 293 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of SM Energy by 7.0% during the third quarter. Sequoia Financial Advisors LLC now owns 5,843 shares of the energy company’s stock worth $234,000 after purchasing an additional 380 shares during the last quarter. KBC Group NV boosted its stake in shares of SM Energy by 16.7% during the third quarter. KBC Group NV now owns 3,321 shares of the energy company’s stock valued at $133,000 after purchasing an additional 476 shares during the period. GAMMA Investing LLC grew its holdings in shares of SM Energy by 7.7% in the third quarter. GAMMA Investing LLC now owns 7,062 shares of the energy company’s stock worth $282,000 after purchasing an additional 505 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in SM Energy by 9.6% in the 3rd quarter. QRG Capital Management Inc. now owns 6,746 shares of the energy company’s stock worth $270,000 after buying an additional 590 shares during the period. 94.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on SM. TD Cowen upgraded shares of SM Energy from a “hold” rating to a “buy” rating and dropped their target price for the stock from $64.00 to $60.00 in a research note on Tuesday, October 15th. Susquehanna reduced their price objective on SM Energy from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Truist Financial upped their target price on SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 13th. 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. Finally, Stephens reiterated an “overweight” rating and set a $57.00 target price on shares of SM Energy in a report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.90.

SM Energy Stock Up 2.3 %

NYSE:SM opened at $38.23 on Wednesday. The company’s 50-day simple moving average is $40.73 and its 200-day simple moving average is $42.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.52 and a current ratio of 3.52. SM Energy has a fifty-two week low of $34.90 and a fifty-two week high of $53.26. The stock has a market capitalization of $4.37 billion, a P/E ratio of 5.34 and a beta of 4.11.

SM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.80 annualized dividend and a yield of 2.09%. SM Energy’s dividend payout ratio (DPR) is 11.17%.

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.