SM Energy (NYSE:SM) Shares Sold by Oslo Asset Management AS

Oslo Asset Management AS lowered its position in SM Energy (NYSE:SM) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,108 shares of the energy company’s stock after selling 30,000 shares during the period. SM Energy comprises approximately 14.5% of Oslo Asset Management AS’s holdings, making the stock its largest position. Oslo Asset Management AS owned about 0.25% of SM Energy worth $12,541,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in SM Energy in the first quarter valued at about $25,000. Plato Investment Management Ltd increased its holdings in SM Energy by 461.9% in the second quarter. Plato Investment Management Ltd now owns 590 shares of the energy company’s stock valued at $26,000 after buying an additional 485 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after buying an additional 474 shares in the last quarter. Lindbrook Capital LLC increased its holdings in SM Energy by 54.9% in the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock valued at $29,000 after buying an additional 206 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in SM Energy by 63.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock valued at $38,000 after buying an additional 340 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $54.00 target price on shares of SM Energy in a report on Tuesday, July 9th. Mizuho dropped their target price on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of SM Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. StockNews.com cut shares of SM Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Stephens reissued an “overweight” rating and set a $63.00 price objective on shares of SM Energy in a research note on Thursday, June 27th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.22.

SM Energy Stock Up 1.7 %

SM stock opened at $40.51 on Wednesday. The stock has a market capitalization of $4.66 billion, a P/E ratio of 6.35 and a beta of 4.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. SM Energy has a one year low of $34.13 and a one year high of $53.26. The company has a 50 day moving average price of $43.86 and a two-hundred day moving average price of $46.71.

SM Energy (NYSE:SM) last released its earnings results on Wednesday, August 7th. The energy company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. The firm had revenue of $634.56 million during the quarter, compared to analysts’ expectations of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. SM Energy’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 EPS. As a group, sell-side analysts expect that SM Energy will post 7.57 EPS for the current year.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were issued a $0.18 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.78%. SM Energy’s dividend payout ratio (DPR) is presently 11.29%.

SM Energy Company Profile

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.