SM Energy Co. (SM) to Post Q3 2016 Earnings of ($0.48) Per Share, Williams Capital Forecasts
SM Energy Co. (NYSE:SM) – Equities research analysts at Williams Capital reduced their Q3 2016 earnings per share estimates for shares of SM Energy in a report issued on Monday. Williams Capital analyst G. Sorbara now expects that the firm will earn ($0.48) per share for the quarter, down from their previous estimate of ($0.45). Williams Capital currently has a “Buy” rating and a $57.00 target price on the stock. Williams Capital also issued estimates for SM Energy’s FY2016 earnings at ($2.02) EPS and FY2017 earnings at ($0.93) EPS.
SM Energy (NYSE:SM) last announced its earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.27. The company had revenue of $341.80 million for the quarter, compared to analyst estimates of $328.18 million. SM Energy had a negative return on equity of 9.92% and a negative net margin of 73.55%. The firm’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 earnings per share.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of SM Energy from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, August 19th. KLR Group raised shares of SM Energy from an “accumulate” rating to a “buy” rating and increased their target price for the company from $37.00 to $43.00 in a report on Tuesday, August 9th. Seaport Global Securities upgraded shares of SM Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $53.00 in a research report on Tuesday, August 30th. Cantor Fitzgerald reiterated a “hold” rating and issued a $24.00 price target on shares of SM Energy in a research report on Wednesday, July 6th. Finally, Deutsche Bank AG increased their price target on shares of SM Energy from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. SM Energy presently has a consensus rating of “Hold” and an average target price of $34.64.
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Shares of SM Energy (NYSE:SM) traded up 5.26% during mid-day trading on Wednesday, reaching $41.06. The company’s stock had a trading volume of 1,979,327 shares. The firm’s 50 day moving average price is $37.32 and its 200-day moving average price is $30.87. SM Energy has a 1-year low of $6.99 and a 1-year high of $43.09. The company’s market capitalization is $2.81 billion.
Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of SM Energy by 3.4% in the second quarter. FMR LLC now owns 10,211,756 shares of the energy company’s stock valued at $275,717,000 after buying an additional 335,165 shares in the last quarter. Capital Research Global Investors raised its position in shares of SM Energy by 4.4% in the second quarter. Capital Research Global Investors now owns 7,208,940 shares of the energy company’s stock valued at $194,641,000 after buying an additional 304,076 shares in the last quarter. Vanguard Group Inc. raised its position in shares of SM Energy by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,060,965 shares of the energy company’s stock valued at $136,646,000 after buying an additional 66,382 shares in the last quarter. State Street Corp raised its position in shares of SM Energy by 14.0% in the first quarter. State Street Corp now owns 3,778,006 shares of the energy company’s stock valued at $70,795,000 after buying an additional 464,526 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of SM Energy by 4.8% in the second quarter. BlackRock Fund Advisors now owns 2,482,648 shares of the energy company’s stock valued at $67,031,000 after buying an additional 113,370 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Kenneth J. Knott sold 661 shares of SM Energy stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $40.00, for a total transaction of $26,440.00. Following the sale, the senior vice president now owns 43,417 shares of the company’s stock, valued at approximately $1,736,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.
The company also recently declared a semiannual dividend, which will be paid on Wednesday, November 2nd. Investors of record on Friday, October 21st will be paid a dividend of $0.05 per share. This represents a yield of 0.29%. The ex-dividend date is Wednesday, October 19th. SM Energy’s dividend payout ratio (DPR) is -0.80%.
About SM Energy
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 (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States.
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