Pinnacle Wealth Planning Services Inc. Takes Position in SM Energy (NYSE:SM)



Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of SM Energy (NYSE:SM – Get Rating) during the first quarter, HoldingsChannel reports. The fund acquired 6,120 shares of the energy company’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System boosted its stake in shares of SM Energy by 0.6% during the first quarter. Maryland State Retirement & Pension System now owns 48,711 shares of the energy company’s stock valued at $1,897,000 after purchasing an additional 284 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of SM Energy by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 58,800 shares of the energy company’s stock valued at $1,733,000 after purchasing an additional 400 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of SM Energy by 2.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,596 shares of the energy company’s stock valued at $489,000 after purchasing an additional 431 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of SM Energy by 1.7% during the fourth quarter. Arizona State Retirement System now owns 30,995 shares of the energy company’s stock valued at $914,000 after purchasing an additional 512 shares in the last quarter. Finally, Ellevest Inc. boosted its stake in shares of SM Energy by 6.7% during the fourth quarter. Ellevest Inc. Now owns 10,312 shares of the energy company’s stock valued at $304,000 after purchasing an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

NYSE SM opened at $34.08 on Monday. The company has a fifty day simple moving average of $40.90 and a two-hundred day simple moving average of $37.68. The stock has a market cap of $4.15 billion, a P/E ratio of 12.96 and a beta of 5.09. SM Energy has a 12-month low of $14.79 and a 12-month high of $54.97. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94.

SM Energy (NYSE:SM – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The energy company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.09). The company had revenue of $859.78 million during the quarter, compared to analysts’ expectations of $765.23 million. SM Energy had a return on equity of 26.11% and a net margin of 11.07%. The company’s quarterly revenue was up 93.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. As a group, sell-side analysts forecast that SM Energy will post 9.02 earnings per share for the current year.

In related news, EVP David W. Copeland sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the transaction, the executive vice president now owns 213,722 shares of the company’s stock, valued at $9,190,046. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David W. Copeland sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $51.23, for a total transaction of $256,150.00. Following the transaction, the executive vice president now directly owns 188,722 shares of the company’s stock, valued at approximately $9,668,228.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,771 shares of company stock valued at $2,987,130. Corporate insiders own 1.60% of the company’s stock.

Several equities research analysts have weighed in on SM shares. StockNews.com started coverage on shares of SM Energy in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Raymond James raised their target price on shares of SM Energy from $57.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, April 25th. Barclays raised their target price on shares of SM Energy from $40.00 to $55.00 and gave the company an “underweight” rating in a research note on Tuesday, June 14th. KeyCorp raised their target price on shares of SM Energy from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 8th. Finally, Wells Fargo & Company raised their target price on shares of SM Energy from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, March 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.25.

SM Energy Company Profile (Get Rating)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 productive gas wells in the Midland Basin and South Texas.

Featured Articles

Want to see what other hedge funds are holding SM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SM Energy (NYSE:SM – Get Rating).

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



Receive News & Ratings for SM Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SM Energy and related companies with MarketBeat.com’s FREE daily email newsletter.

.

Leave a Comment

Your email address will not be published.