Turtle Creek Wealth Advisors 13F: Exits SM Energy (SM) Stake

Turtle Creek Wealth Advisors completely exited its investment in SM Energy Company (NYSE: SM) during the period, according to a Form 13F filing with the SEC on October 15, 2026. Because 13F reports look backward at past quarters, these filings show snapshot holdings and may not reflect the fund's current stance.

Inside Turtle Creek Wealth Advisors's SM Energy Trade

Turtle Creek sold out of the energy producer entirely, getting rid of all 190,959 shares it previously owned. The complete liquidation removed the fund's entire stake from its reported portfolio.

Other Institutional Activity in SM Energy

Other large institutional investors made mixed moves with their SM Energy holdings during the same reporting period. Blackrock Inc. grew its holdings by 849,336 shares, ending with 39,280,818 shares worth about $1,551,592,311. Vanguard Portfolio Management LLC grew its holdings by 190,437 shares, ending with 15,425,423 shares worth about $609,304,208. Canada Pension Plan Investment Board kept its stake steady, ending with 14,493,791 shares worth about $572,504,744. Aristeia Capital, LLC grew its holdings by 2,158,643 shares, ending with 13,000,649 shares worth about $513,525,635. State Street Corporation reduced its holdings by 789,721 shares, ending with 11,705,860 shares worth about $462,381,470.

SM Energy Company Stock Up 4.2%

SM Energy shares recently traded around $39.09, sitting 9.2% above their 50-day moving average and 34.0% above their 200-day moving average. The stock trades about 5.9% below its 52-week high of $41.56 and well above its 52-week low of $17.45. The company carries a market capitalization of roughly $9.4 billion and a price-to-earnings ratio of 7.0.

Recent Earnings

SM Energy generated trailing-twelve-month revenue of $4.96 billion and earnings of $5.64 per share. The company posted a net profit margin of 20.2% alongside a return on equity of 16.1%. Its year-over-year revenue growth reached 176.1%. The company is scheduled to release its next round of financial results on November 3, 2026.

Dividend

SM Energy pays an annual dividend rate of $0.88 per share, giving investors a dividend yield of 2.35%. The payout ratio sits at 18.4% of earnings.

Insider Buying and Selling at SM Energy Company

Company insiders trimmed portions of their stock holdings ahead of the filing. Director Ramiro G Peru sold 24,553 shares on May 21, 2026, at an average price of $33.98 for a total of $834,311. General Counsel James Barker Lebeck sold 17,500 shares on August 21, 2026, at an average price of $37.02 for $647,850. Director Ashwin Venkatraman sold 3,650 shares on September 10, 2026, at an average price of $38.28 for $139,722.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock leading up to the filing. On September 3, 2026, Seaport Global initiated coverage with a sell rating and a $35.00 price target. UBS maintained a buy rating on September 14, 2026, raising its target to $48.00 from $36.00. Keybanc maintained an overweight rating on September 15, 2026, lifting its target to $46.00 from $39.00. Truist Securities maintained a buy rating on October 7, 2026, boosting its target to $48.00 from $43.00. Scotiabank initiated coverage with a sector perform rating and a $39.00 price target on October 15, 2026. Across the broader analyst community, the stock holds a consensus buy rating with a mean price target of $44.88.

About SM Energy

Headquartered in Denver, Colorado, SM Energy Company operates as an independent energy producer focused on finding and extracting oil, natural gas, and natural gas liquids across the United States. The firm holds working interests in major oil and gas fields located in the Midland Basin, South Texas, the Uinta Basin, and the DJ Basin. Institutional shifts in companies like SM Energy often draw attention as market participants adjust sector exposures.

Bottom Line

Investors will look toward SM Energy's upcoming earnings release on November 3, 2026, for fresh details on operational performance. Future 13F filings will show whether other institutional managers follow Turtle Creek's lead or continue building stakes in the oil and gas producer. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.