Tributary Capital Management LLC Has $28.30 Million Stock Position in SM Energy (NYSE:SM)

Tributary Capital Management LLC decreased its holdings in SM Energy (NYSE:SM) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 567,725 shares of the energy company’s stock after selling 6,395 shares during the period. SM Energy accounts for approximately 2.3% of Tributary Capital Management LLC’s holdings, making the stock its 5th biggest holding. Tributary Capital Management LLC owned 0.49% of SM Energy worth $28,301,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SM. Janney Montgomery Scott LLC bought a new position in shares of SM Energy in the 3rd quarter valued at about $272,000. Envestnet Portfolio Solutions Inc. bought a new stake in SM Energy in the third quarter worth about $331,000. Envestnet Asset Management Inc. lifted its stake in SM Energy by 30.8% in the third quarter. Envestnet Asset Management Inc. now owns 341,898 shares of the energy company’s stock worth $13,556,000 after purchasing an additional 80,509 shares during the last quarter. Acadian Asset Management LLC bought a new stake in SM Energy in the third quarter worth about $64,000. Finally, Natixis Advisors L.P. lifted its stake in SM Energy by 9.4% in the third quarter. Natixis Advisors L.P. now owns 43,190 shares of the energy company’s stock worth $1,712,000 after purchasing an additional 3,726 shares during the last quarter. Institutional investors own 94.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SM shares. Susquehanna lifted their price target on shares of SM Energy from $42.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. KeyCorp lifted their price target on shares of SM Energy from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Wells Fargo & Company lifted their price target on shares of SM Energy from $45.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $63.00 price target on shares of SM Energy in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.89.

SM Energy Stock Performance

Shares of SM traded up $0.43 during trading hours on Monday, reaching $43.66. 2,975,235 shares of the company traded hands, compared to its average volume of 1,717,049. The stock has a market capitalization of $5.02 billion, a P/E ratio of 6.84 and a beta of 4.20. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. SM Energy has a 12-month low of $29.51 and a 12-month high of $53.26. The business has a fifty day moving average price of $48.42 and a 200-day moving average price of $44.49.

SM Energy (NYSE:SM) last posted its earnings results on Thursday, May 2nd. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. The company had revenue of $559.87 million during the quarter, compared to the consensus estimate of $568.21 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. Equities analysts anticipate that SM Energy will post 6.69 EPS for the current fiscal year.

SM Energy Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.65%. SM Energy’s dividend payout ratio (DPR) is currently 11.29%.

Insiders Place Their Bets

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. Insiders own 1.50% of the company’s stock.

SM Energy 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.