SM Energy Company (SM) Expected to Post Quarterly Sales of $297.42 Million
Wall Street analysts forecast that SM Energy Company (NYSE:SM) will announce sales of $297.42 million for the current quarter, Zacks reports. Eight analysts have provided estimates for SM Energy’s earnings. The highest sales estimate is $337.28 million and the lowest is $271.00 million. SM Energy posted sales of $352.66 million during the same quarter last year, which suggests a negative year-over-year growth rate of 15.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that SM Energy will report full year sales of $297.42 million for the current financial year, with estimates ranging from $1.07 billion to $1.38 billion. For the next financial year, analysts expect that the business will post sales of $1.41 billion per share, with estimates ranging from $1.17 billion to $1.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for SM Energy.
SM Energy (NYSE:SM) last released its earnings results on Thursday, August 3rd. The energy company reported ($0.32) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.32). The business had revenue of $284.94 million for the quarter, compared to analysts’ expectations of $299.12 million. SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The firm’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.44) earnings per share.
Several analysts have commented on the stock. Williams Capital reiterated a “buy” rating and issued a $40.00 price target on shares of SM Energy in a research note on Wednesday, May 3rd. Royal Bank Of Canada set a $36.00 price target on shares of SM Energy and gave the stock a “hold” rating in a research note on Tuesday, April 25th. Bank of America Corporation cut shares of SM Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $48.00 to $37.00 in a research note on Thursday, May 11th. Scotiabank cut shares of SM Energy from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research note on Tuesday, May 16th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $30.00 price target (down previously from $38.00) on shares of SM Energy in a research note on Saturday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.29.
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SM Energy (NYSE SM) opened at 13.19 on Friday. The company’s market cap is $1.47 billion. The company has a 50-day moving average price of $16.16 and a 200-day moving average price of $20.69. SM Energy has a 1-year low of $13.17 and a 1-year high of $43.09.
In other news, EVP Herbert S. Vogel purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the acquisition, the executive vice president now owns 32,637 shares of the company’s stock, valued at approximately $541,774.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Javan D. Ottoson purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were purchased at an average price of $16.44 per share, for a total transaction of $32,880.00. Following the completion of the acquisition, the chief executive officer now directly owns 143,302 shares in the company, valued at approximately $2,355,884.88. The disclosure for this purchase can be found here. Corporate insiders own 0.89% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Meadow Creek Investment Management LLC increased its position in shares of SM Energy by 172.9% in the first quarter. Meadow Creek Investment Management LLC now owns 5,632 shares of the energy company’s stock valued at $135,000 after buying an additional 3,568 shares during the last quarter. Credit Agricole S A increased its position in shares of SM Energy by 13.2% in the first quarter. Credit Agricole S A now owns 7,106 shares of the energy company’s stock valued at $171,000 after buying an additional 831 shares during the last quarter. Neuburgh Advisers LLC increased its position in shares of SM Energy by 172.9% in the first quarter. Neuburgh Advisers LLC now owns 7,744 shares of the energy company’s stock valued at $186,000 after buying an additional 4,906 shares during the last quarter. Lee Financial Co increased its position in shares of SM Energy by 100.0% in the first quarter. Lee Financial Co now owns 8,000 shares of the energy company’s stock valued at $192,000 after buying an additional 4,000 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of SM Energy by 10.8% in the first quarter. Capstone Asset Management Co. now owns 8,546 shares of the energy company’s stock valued at $205,000 after buying an additional 830 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.
SM Energy 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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