Glenmede Trust Co. NA Boosts Position in SM Energy (NYSE:SM)

Glenmede Trust Co. NA grew its holdings in SM Energy (NYSE:SM) by 2.5% during the 3rd quarter, Holdings Channel reports. The fund owned 432,825 shares of the energy company’s stock after purchasing an additional 10,728 shares during the period. Glenmede Trust Co. NA’s holdings in SM Energy were worth $17,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in SM Energy by 2,515.6% during the third quarter. Pacer Advisors Inc. now owns 4,463,443 shares of the energy company’s stock valued at $178,404,000 after purchasing an additional 4,292,793 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of SM Energy by 929.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock valued at $50,125,000 after buying an additional 1,046,872 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of SM Energy by 2,217.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 818,032 shares of the energy company’s stock valued at $32,697,000 after buying an additional 782,728 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of SM Energy by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock worth $274,161,000 after buying an additional 384,675 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in SM Energy by 267.4% during the third quarter. Townsquare Capital LLC now owns 391,107 shares of the energy company’s stock worth $15,633,000 after acquiring an additional 284,665 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com downgraded SM Energy from a “buy” rating to a “hold” rating in a report on Friday, September 13th. BMO Capital Markets decreased their target price on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. KeyCorp dropped their price target on shares of SM Energy from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Mizuho decreased their price objective on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised their target price on SM Energy from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SM Energy presently has a consensus rating of “Moderate Buy” and an average price target of $51.09.

SM Energy Price Performance

NYSE:SM opened at $44.83 on Friday. The firm has a market cap of $5.13 billion, a P/E ratio of 6.26 and a beta of 4.18. The stock has a 50 day moving average of $43.04 and a two-hundred day moving average of $44.56. SM Energy has a 12 month low of $34.13 and a 12 month high of $53.26. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.67.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $643.67 million. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. On average, analysts expect that SM Energy will post 6.77 earnings per share for the current fiscal year.

SM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, October 25th. SM Energy’s dividend payout ratio is 11.17%.

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.