SM Energy (NYSE:SM) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. trimmed its holdings in SM Energy (NYSE:SM) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,087,466 shares of the energy company’s stock after selling 3,169 shares during the period. Congress Asset Management Co.’s holdings in SM Energy were worth $42,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new position in SM Energy in the 3rd quarter valued at $30,000. Blue Trust Inc. increased 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 valued at $44,000 after buying an additional 996 shares during the period. Millburn Ridgefield Corp acquired a new position in SM Energy in the 3rd quarter valued at $55,000. International Assets Investment Management LLC increased its stake in SM Energy by 3,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,439 shares of the energy company’s stock valued at $58,000 after buying an additional 1,403 shares during the period. Finally, R Squared Ltd acquired a new position in SM Energy in the 4th quarter valued at $61,000. 94.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SM has been the topic of several recent research reports. Stephens reissued an “overweight” rating and issued a $57.00 price objective on shares of SM Energy in a research note on Thursday, January 2nd. Mizuho decreased their target price on shares of SM Energy from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company decreased their target price on shares of SM Energy from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial boosted their target price on shares of SM Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Susquehanna decreased their target price on shares of SM Energy from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.90.

SM Energy Price Performance

SM Energy stock opened at $38.51 on Monday. SM Energy has a 52 week low of $36.13 and a 52 week high of $53.26. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $39.96 and its 200 day simple moving average is $41.91. The firm has a market capitalization of $4.41 billion, a PE ratio of 5.38 and a beta of 4.11.

SM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 24th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. SM Energy’s dividend payout ratio is presently 11.17%.

About SM Energy

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.