Azzad Asset Management Inc. ADV Raises Stake in SM Energy (NYSE:SM)

Azzad Asset Management Inc. ADV grew its stake in shares of SM Energy (NYSE:SM) by 31.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 13,351 shares of the energy company’s stock after acquiring an additional 3,171 shares during the period. Azzad Asset Management Inc. ADV’s holdings in SM Energy were worth $666,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC grew its position in SM Energy by 11.3% in the 4th quarter. CWM LLC now owns 2,683 shares of the energy company’s stock worth $104,000 after purchasing an additional 272 shares during the period. Exchange Traded Concepts LLC increased its stake in SM Energy by 1.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 20,125 shares of the energy company’s stock worth $779,000 after buying an additional 286 shares in the last quarter. First Horizon Advisors Inc. raised its stake in SM Energy by 31.6% during the 4th quarter. First Horizon Advisors Inc. now owns 1,469 shares of the energy company’s stock valued at $57,000 after purchasing an additional 353 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of SM Energy by 509.7% in the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock worth $28,000 after buying an additional 474 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of SM Energy by 0.9% during the 4th quarter. US Bancorp DE now owns 52,651 shares of the energy company’s stock valued at $2,039,000 after purchasing an additional 493 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Stock Performance

NYSE SM traded up $0.57 during trading hours on Wednesday, reaching $44.92. The stock had a trading volume of 279,181 shares, compared to its average volume of 1,719,955. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a fifty day moving average of $48.31 and a 200 day moving average of $44.54. SM Energy has a 52-week low of $29.51 and a 52-week high of $53.26. The stock has a market cap of $5.17 billion, a P/E ratio of 6.98 and a beta of 4.20.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. SM Energy had a return on equity of 20.10% and a net margin of 31.80%. The business had revenue of $559.87 million during the quarter, compared to analyst estimates of $568.21 million. Sell-side analysts predict that SM Energy will post 6.7 earnings per share for the current year.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 19th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.72 annualized dividend and a yield of 1.60%. SM Energy’s dividend payout ratio is presently 11.29%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SM shares. Susquehanna boosted their price target on shares of SM Energy from $42.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Wells Fargo & Company boosted their price objective on SM Energy from $45.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. KeyCorp raised their target price on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Truist Financial lowered their price objective on shares of SM Energy from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Monday. Finally, StockNews.com raised SM Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, SM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $54.89.

Insider Transactions at SM Energy

In other SM Energy news, SVP Kenneth J. Knott sold 16,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $50.28, for a total value of $804,480.00. Following the completion of the transaction, the senior vice president now owns 114,495 shares in the company, valued at $5,756,808.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

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.