SM Energy Company (NYSE:SM) Expected to Post Quarterly Sales of $292.73 Million
Wall Street brokerages expect that SM Energy Company (NYSE:SM) will post $292.73 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for SM Energy Company’s earnings. The highest sales estimate is $308.70 million and the lowest is $278.93 million. SM Energy Company posted sales of $341.81 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.4%. The company is expected to announce its next earnings results on Tuesday, August 1st.
On average, analysts expect that SM Energy Company will report full year sales of $292.73 million for the current financial year, with estimates ranging from $1.23 billion to $1.38 billion. For the next year, analysts anticipate that the business will report sales of $1.59 billion per share, with estimates ranging from $1.15 billion to $1.90 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover SM Energy Company.
SM Energy Company (NYSE:SM) last posted its quarterly earnings data on Tuesday, May 2nd. The energy company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.36) by $0.54. The firm had revenue of $372.74 million during the quarter, compared to analyst estimates of $309.43 million. SM Energy Company had a negative return on equity of 3.28% and a negative net margin of 23.23%.
A number of research firms recently issued reports on SM. Scotiabank restated an “outperform” rating and set a $5.25 target price on shares of SM Energy Company in a research report on Thursday, May 4th. Seaport Global Securities downgraded shares of SM Energy Company from a “buy” rating to a “neutral” rating and decreased their target price for the company from $31.00 to $16.00 in a research report on Wednesday, June 21st. Williams Capital set a $40.00 target price on shares of SM Energy Company and gave the company a “buy” rating in a research report on Tuesday, May 16th. Barclays PLC restated an “overweight” rating and set a $30.00 target price (down from $38.00) on shares of SM Energy Company in a research report on Saturday, April 22nd. Finally, Bank of America Corporation downgraded shares of SM Energy Company from a “buy” rating to a “neutral” rating and decreased their target price for the company from $48.00 to $37.00 in a research report on Thursday, May 11th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. SM Energy Company presently has an average rating of “Buy” and a consensus target price of $37.21.
SM Energy Company (NYSE SM) traded down 4.71% during midday trading on Friday, hitting $14.97. The stock had a trading volume of 3,109,469 shares. SM Energy Company has a 52-week low of $13.76 and a 52-week high of $43.09. The firm’s market capitalization is $1.67 billion. The firm has a 50-day moving average of $17.91 and a 200 day moving average of $24.99.
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In other SM Energy Company news, EVP Herbert S. Vogel acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was bought at an average price of $16.60 per share, with a total value of $49,800.00. Following the purchase, the executive vice president now owns 32,637 shares in the company, valued at $541,774.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Javan D. Ottoson acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were acquired at an average cost of $16.44 per share, with a total value of $32,880.00. Following the purchase, the chief executive officer now owns 143,302 shares in the company, valued at approximately $2,355,884.88. The disclosure for this purchase can be found here. 0.89% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Peregrine Capital Management LLC acquired a new stake in shares of SM Energy Company during the first quarter valued at about $5,454,000. Macquarie Group Ltd. boosted its stake in shares of SM Energy Company by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,664,697 shares of the energy company’s stock valued at $57,399,000 after buying an additional 72,503 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of SM Energy Company by 19.7% in the fourth quarter. Teachers Advisors LLC now owns 181,994 shares of the energy company’s stock valued at $6,275,000 after buying an additional 30,015 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of SM Energy Company during the fourth quarter valued at about $388,000. Finally, Brookfield Asset Management Inc. acquired a new stake in shares of SM Energy Company during the fourth quarter valued at about $777,000. 97.81% of the stock is owned by institutional investors.
SM Energy Company Company Profile
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. It operates in the exploration and production segment of the oil and gas industry within the United States.
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