Key Group Holdings (cayman) Ltd. Lowers stake in SM Energy Co (SM)

SM Energy Co (SM) : Key Group Holdings (cayman) Ltd. reduced its stake in SM Energy Co by 48.02% during the most recent quarter end. The investment management company now holds a total of 2,590,804 shares of SM Energy Co which is valued at $84,537,935 after selling 2,393,481 shares in SM Energy Co , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.SM Energy Co makes up approximately 7.44% of Key Group Holdings (cayman) Ltd.’s portfolio.

Other Hedge Funds, Including , Kennedy Capital Management reduced its stake in SM by selling 942 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 120,636 shares of SM which is valued at $3,936,353. SM Energy Co makes up approx 0.08% of Kennedy Capital Management’s portfolio.First Pacific Advisors reduced its stake in SM by selling 539,235 shares or 35.87% in the most recent quarter. The Hedge Fund company now holds 964,063 shares of SM which is valued at $31,216,360. SM Energy Co makes up approx 0.25% of First Pacific Advisors’s portfolio.Advisors Asset Management reduced its stake in SM by selling 4,404 shares or 8.71% in the most recent quarter. The Hedge Fund company now holds 46,132 shares of SM which is valued at $1,493,754. SM Energy Co makes up approx 0.02% of Advisors Asset Management’s portfolio.Palisade Capital Managementnj reduced its stake in SM by selling 22,128 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 375,639 shares of SM which is valued at $11,231,606. SM Energy Co makes up approx 0.48% of Palisade Capital Managementnj’s portfolio.South Texas Money Management Ltd reduced its stake in SM by selling 17,662 shares or 65.59% in the most recent quarter. The Hedge Fund company now holds 9,265 shares of SM which is valued at $277,024. SM Energy Co makes up approx 0.02% of South Texas Money Management Ltd’s portfolio.

SM Energy Co opened for trading at $37.66 and hit $38.24 on the upside on Monday, eventually ending the session at $37.79, with a gain of 0.24% or 0.09 points. The heightened volatility saw the trading volume jump to 21,59,121 shares. Company has a market cap of $2,587 M.

On the company’s financial health, SM Energy Co reported $-0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.68. The company had revenue of $341.80 million for the quarter, compared to analysts expectations of $344.82 million. The company’s revenue was down -33.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on SM Energy Co. Williams Capital Group Initiated SM Energy Co on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $57.SM Energy Co was Upgraded by Piper Jaffray to ” Overweight” on Aug 15, 2016. SM Energy Co was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Aug 10, 2016.

SM Energy Company is an independent energy company. The Company is engaged in the acquisition exploration development and production of crude oil and condensate natural gas and natural gas liquids in onshore North America. Its operations are carried in four onshore operating areas in the United States: South Texas & Gulf Coast Region which is managed from its office in Houston Texas and has both operated and non-operated Eagle Ford shale programs; Rocky Mountain Region which the Company operates from its office in Billings Montana and focuses on the development and growth through acquisition of assets targeting the Bakken/Three Forks formations; Permian Region which is managed from the Company’s office in Midland Texas and covers western Texas and southeastern New Mexico and Mid-Continent Region which is managed from the Company’s office in Tulsa Oklahoma and the Mid-Continent Region consists of its Haynesville and Woodford Shale assets.

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