Allspring Global Investments Holdings LLC Acquires 1,370 Shares of SM Energy (NYSE:SM)

Allspring Global Investments Holdings LLC boosted its holdings in shares of SM Energy (NYSE:SM) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 546,956 shares of the energy company’s stock after purchasing an additional 1,370 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.48% of SM Energy worth $21,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SM. Harbor Capital Advisors Inc. purchased a new position in shares of SM Energy in the third quarter worth $30,000. Blue Trust Inc. lifted its stake in SM Energy by 3,434.5% in the 3rd quarter. Blue Trust Inc. now owns 1,025 shares of the energy company’s stock worth $44,000 after purchasing an additional 996 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of SM Energy during the 3rd quarter valued at about $55,000. International Assets Investment Management LLC grew its position in shares of SM Energy by 3,897.2% during the third quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company’s stock valued at $58,000 after purchasing an additional 1,403 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of SM Energy in the fourth quarter worth about $61,000. 94.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SM shares. Wells Fargo & Company dropped their price target on SM Energy from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Mizuho cut their target price on shares of SM Energy from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $53.00 price target (up previously from $51.00) on shares of SM Energy in a research note on Wednesday, December 4th. Susquehanna reduced their target price on shares of SM Energy from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Truist Financial increased their price target on shares of SM Energy from $42.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SM Energy currently has a consensus rating of “Moderate Buy” and an average target price of $51.90.

SM Energy Price Performance

SM opened at $38.51 on Friday. The business has a fifty day moving average of $39.96 and a 200 day moving average of $41.94. The stock has a market cap of $4.41 billion, a P/E ratio of 5.38 and a beta of 4.11. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.67. SM Energy has a 52-week low of $36.13 and a 52-week high of $53.26.

SM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 24th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, January 24th. SM Energy’s payout ratio is presently 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.