PNC Financial Services Group Inc. Trims Stake in SM Energy (NYSE:SM)

PNC Financial Services Group Inc. cut its holdings in shares of SM Energy (NYSE:SMFree Report) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,401 shares of the energy company’s stock after selling 3,816 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SM Energy were worth $945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. increased its holdings in SM Energy by 59.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 990 shares of the energy company’s stock valued at $39,000 after purchasing an additional 370 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of SM Energy in the fourth quarter valued at $41,000. Covestor Ltd raised its holdings in shares of SM Energy by 294.1% in the 3rd quarter. Covestor Ltd now owns 1,064 shares of the energy company’s stock valued at $42,000 after buying an additional 794 shares during the period. International Assets Investment Management LLC lifted its stake in SM Energy by 3,772.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,394 shares of the energy company’s stock worth $54,000 after acquiring an additional 1,358 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in SM Energy by 31.6% during the 4th quarter. First Horizon Advisors Inc. now owns 1,469 shares of the energy company’s stock valued at $57,000 after acquiring an additional 353 shares during the period. 94.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SM has been the topic of several research reports. StockNews.com raised shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp increased their target price on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Mizuho boosted their price target on shares of SM Energy from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Royal Bank of Canada upped their price objective on SM Energy from $50.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lifted their target price on SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, SM Energy has an average rating of “Moderate Buy” and an average price target of $54.57.

Check Out Our Latest Report on SM

SM Energy Stock Performance

Shares of SM stock opened at $49.26 on Friday. The company has a market cap of $5.66 billion, a P/E ratio of 7.72 and a beta of 4.21. The firm has a fifty day moving average price of $49.78 and a 200 day moving average price of $42.81. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. SM Energy has a 12 month low of $25.84 and a 12 month high of $53.26.

SM Energy (NYSE:SMGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.13. SM Energy had a return on equity of 20.10% and a net margin of 31.80%. The business had revenue of $559.87 million during the quarter, compared to analysts’ expectations of $568.21 million. Sell-side analysts predict that SM Energy will post 6.63 earnings per share for the current fiscal year.

SM Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, April 19th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.72 annualized dividend and a yield of 1.46%. SM Energy’s dividend payout ratio is currently 11.29%.

Insiders Place Their Bets

In related news, SVP Kenneth J. Knott sold 16,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $50.28, for a total value of $804,480.00. Following the completion of the sale, the senior vice president now directly owns 114,495 shares of the company’s stock, valued at $5,756,808.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

SM Energy Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for SM Energy (NYSE:SM)

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