California State Teachers Retirement System raised its position in SM Energy (NYSE:SM) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,808 shares of the energy company’s stock after acquiring an additional 10,895 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of SM Energy worth $319,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in shares of SM Energy by 30.9% during the 2nd quarter. Two Sigma Advisers LP now owns 372,402 shares of the energy company’s stock worth $1,397,000 after buying an additional 87,900 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SM Energy by 9.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,027,484 shares of the energy company’s stock worth $3,854,000 after buying an additional 90,234 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of SM Energy during the 2nd quarter worth about $40,000. Canada Pension Plan Investment Board acquired a new stake in shares of SM Energy during the 2nd quarter worth about $283,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of SM Energy by 211.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 116,100 shares of the energy company’s stock worth $435,000 after buying an additional 78,800 shares during the last quarter. Hedge funds and other institutional investors own 91.26% of the company’s stock.
SM opened at $6.12 on Friday. The company’s 50 day moving average is $4.80 and its 200-day moving average is $3.19. SM Energy has a 1-year low of $0.90 and a 1-year high of $12.40. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.08. The company has a market cap of $701.19 million, a P/E ratio of -1.23 and a beta of 5.52.
SM Energy (NYSE:SM) last posted its quarterly earnings results on Thursday, November 5th. The energy company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.18. SM Energy had a negative net margin of 41.03% and a negative return on equity of 1.57%. The company had revenue of $281.00 million for the quarter, compared to the consensus estimate of $316.49 million. During the same period last year, the company posted ($0.11) EPS. The firm’s quarterly revenue was down 27.9% compared to the same quarter last year. On average, equities analysts forecast that SM Energy will post -0.52 EPS for the current year.
SM has been the subject of a number of research reports. MKM Partners raised their target price on shares of SM Energy from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. KeyCorp cut their target price on shares of SM Energy from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Raymond James restated a “hold” rating on shares of SM Energy in a research note on Wednesday, November 4th. BidaskClub raised shares of SM Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 11th. Finally, Stifel Nicolaus raised their price target on shares of SM Energy from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, December 22nd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.17.
SM Energy 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 the state of Texas. As of December 31, 2019, the company had 462.0 million barrels of oil equivalent of estimated proved reserves; and working interests in 807 gross productive oil wells and 519 gross productive gas wells in the Midland Basin and South Texas.
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