SM Energy (NYSE:SM) Expected to Post Q1 2024 Earnings of $1.34 Per Share

SM Energy (NYSE:SM - Free Report) - Capital One Financial boosted their Q1 2024 earnings per share (EPS) estimates for SM Energy in a note issued to investors on Wednesday, April 3rd. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $1.34 per share for the quarter, up from their prior forecast of $1.21. The consensus estimate for SM Energy's current full-year earnings is $5.72 per share.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.17. SM Energy had a return on equity of 20.74% and a net margin of 34.45%. The firm had revenue of $608.73 million for the quarter, compared to analyst estimates of $611.35 million. During the same period last year, the firm posted $1.29 earnings per share. The business's revenue for the quarter was down 9.3% on a year-over-year basis.

Several other research firms also recently commented on SM. KeyCorp decreased their price objective on SM Energy from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, January 11th. Seaport Res Ptn raised SM Energy from a "neutral" rating to a "buy" rating in a research report on Wednesday, January 31st. Raymond James dropped their price objective on SM Energy from $53.00 to $45.00 and set an "outperform" rating on the stock in a report on Monday, January 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $45.00 target price on shares of SM Energy in a research note on Monday, February 5th. Finally, Susquehanna increased their price objective on SM Energy from $38.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.71.

SM Energy Trading Up 1.4 %

Shares of SM Energy stock traded up $0.72 during midday trading on Friday, reaching $52.76. The company had a trading volume of 1,907,012 shares, compared to its average volume of 1,599,094. The firm has a market cap of $6.14 billion, a PE ratio of 7.68 and a beta of 4.20. The stock has a fifty day moving average price of $43.46 and a 200 day moving average price of $40.09. 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 has a fifty-two week low of $25.03 and a fifty-two week high of $53.26.

SM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.36%. The ex-dividend date is Thursday, April 18th. SM Energy's dividend payout ratio is presently 10.48%.

Institutional Investors Weigh In On SM Energy

Several institutional investors have recently bought and sold shares of SM. First Horizon Advisors Inc. purchased a new stake in SM Energy in the 1st quarter worth approximately $25,000. Penserra Capital Management LLC purchased a new stake in SM Energy in the 3rd quarter worth approximately $28,000. IFP Advisors Inc lifted its holdings in SM Energy by 561.7% in the 2nd quarter. IFP Advisors Inc now owns 880 shares of the energy company's stock worth $28,000 after buying an additional 747 shares during the period. BluePath Capital Management LLC purchased a new position in shares of SM Energy in the 3rd quarter valued at approximately $32,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of SM Energy by 59.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 990 shares of the energy company's stock valued at $39,000 after purchasing an additional 370 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

About SM Energy

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.