SM Energy (NYSE:SM - Free Report) - Equities research analysts at Capital One Financial decreased their Q1 2024 earnings per share estimates for SM Energy in a research report issued to clients and investors on Wednesday, April 17th. Capital One Financial analyst B. Velie now expects that the energy company will post earnings of $1.29 per share for the quarter, down from their prior estimate of $1.34. The consensus estimate for SM Energy's current full-year earnings is $6.21 per share. Capital One Financial also issued estimates for SM Energy's Q2 2024 earnings at $1.56 EPS, Q3 2024 earnings at $1.64 EPS, Q4 2024 earnings at $1.71 EPS and FY2024 earnings at $6.19 EPS.
SM Energy (NYSE:SM - Get Free Report) last posted its earnings results on Wednesday, February 21st. The energy company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.17. The company had revenue of $608.73 million during the quarter, compared to analyst estimates of $611.35 million. SM Energy had a return on equity of 20.74% and a net margin of 34.45%. SM Energy's revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 earnings per share.
Several other brokerages have also commented on SM. Seaport Res Ptn upgraded SM Energy from a "neutral" rating to a "buy" rating in a report on Wednesday, January 31st. Raymond James decreased their price objective on SM Energy from $53.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, January 8th. KeyCorp increased their price objective on SM Energy from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, April 12th. Wells Fargo & Company increased their price objective on SM Energy from $45.00 to $51.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $45.00 target price on shares of SM Energy in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.86.
View Our Latest Research Report on SM Energy
SM Energy Stock Up 0.1 %
SM Energy stock traded up $0.05 during mid-day trading on Friday, reaching $48.09. 1,456,324 shares of the company were exchanged, compared to its average volume of 1,589,215. The business has a fifty day moving average of $46.20 and a 200 day moving average of $40.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $5.57 billion, a P/E ratio of 7.00 and a beta of 4.20. SM Energy has a 12-month low of $25.03 and a 12-month high of $53.26.
Institutional Investors Weigh In On SM Energy
Several hedge funds have recently modified their holdings of the company. Norden Group LLC purchased a new stake in shares of SM Energy during the 1st quarter worth about $477,000. Azzad Asset Management Inc. ADV lifted its stake in SM Energy by 31.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,351 shares of the energy company's stock worth $666,000 after purchasing an additional 3,171 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in SM Energy by 12.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 842,960 shares of the energy company's stock worth $42,022,000 after purchasing an additional 91,507 shares in the last quarter. Congress Wealth Management LLC DE lifted its stake in SM Energy by 28.9% in the 1st quarter. Congress Wealth Management LLC DE now owns 104,545 shares of the energy company's stock worth $5,212,000 after purchasing an additional 23,438 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of SM Energy by 509.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company's stock worth $28,000 after buying an additional 474 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.
SM Energy Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, April 18th. SM Energy's dividend payout ratio is currently 10.48%.
SM Energy Company Profile
(
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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.
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