SM Energy Forecasted to Earn Q3 2024 Earnings of $2.01 Per Share (NYSE:SM)

SM Energy (NYSE:SM) – Equities researchers at Roth Capital raised their Q3 2024 earnings per share estimates for SM Energy in a report released on Thursday, May 2nd. Roth Capital analyst L. Mariani now forecasts that the energy company will post earnings per share of $2.01 for the quarter, up from their prior estimate of $1.84. The consensus estimate for SM Energy’s current full-year earnings is $6.42 per share. Roth Capital also issued estimates for SM Energy’s FY2024 earnings at $7.15 EPS.

A number of other research firms also recently commented on SM. JPMorgan Chase & Co. increased their target price on shares of SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Seaport Res Ptn upgraded SM Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. StockNews.com raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Friday. Raymond James reduced their price target on shares of SM Energy from $53.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, January 8th. Finally, Wells Fargo & Company raised their price target on SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $52.57.

SM Energy Stock Up 5.0 %

Shares of NYSE SM opened at $50.13 on Monday. The business has a 50-day moving average of $48.24 and a two-hundred day moving average of $41.62. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 7.86 and a beta of 4.21. SM Energy has a 1 year low of $25.03 and a 1 year high of $53.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.45.

SM Energy (NYSE:SM) last issued its earnings results on Wednesday, February 21st. The energy company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.17. SM Energy had a net margin of 31.80% and a return on equity of 20.48%. The firm had revenue of $608.73 million for the quarter, compared to analysts’ expectations of $611.35 million. During the same quarter last year, the company earned $1.29 earnings per share. The firm’s revenue was down 9.3% compared to the same quarter last year.

Hedge Funds Weigh In On SM Energy

A number of large investors have recently made changes to their positions in the stock. Lindbrook Capital LLC increased its position in shares of SM Energy by 54.9% in the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock valued at $29,000 after buying an additional 206 shares in the last quarter. CWM LLC increased its holdings in SM Energy by 11.3% during the 4th quarter. CWM LLC now owns 2,683 shares of the energy company’s stock valued at $104,000 after acquiring an additional 272 shares in the last quarter. Exchange Traded Concepts LLC raised its position in SM Energy by 1.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,125 shares of the energy company’s stock worth $779,000 after acquiring an additional 286 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of SM Energy by 66.8% in the first quarter. UMB Bank n.a. now owns 829 shares of the energy company’s stock valued at $41,000 after purchasing an additional 332 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of SM Energy by 31.6% in the fourth quarter. First Horizon Advisors Inc. now owns 1,469 shares of the energy company’s stock valued at $57,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, April 19th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, April 18th. SM Energy’s dividend payout ratio (DPR) is currently 11.29%.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.