Brokerages Anticipate SM Energy (NYSE:SM) Will Announce Quarterly Sales of $686.42 Million

Equities research analysts predict that SM Energy (NYSE:SMGet Rating) will announce $686.42 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for SM Energy’s earnings, with the lowest sales estimate coming in at $615.30 million and the highest estimate coming in at $841.00 million. SM Energy posted sales of $443.85 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 54.7%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that SM Energy will report full year sales of $2.92 billion for the current financial year, with estimates ranging from $2.55 billion to $3.48 billion. For the next year, analysts anticipate that the firm will post sales of $3.04 billion, with estimates ranging from $2.96 billion to $3.19 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow SM Energy.

SM Energy (NYSE:SMGet Rating) last announced its earnings results on Thursday, February 24th. The energy company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.32. The business had revenue of $854.90 million for the quarter, compared to analyst estimates of $595.23 million. SM Energy had a return on equity of 13.06% and a net margin of 1.38%. SM Energy’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS.

A number of research firms recently weighed in on SM. StockNews.com began coverage on SM Energy in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research lowered SM Energy from a “strong-buy” rating to a “hold” rating and set a $42.00 price target for the company. in a report on Tuesday, March 22nd. Raymond James raised their target price on SM Energy from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, March 28th. KeyCorp boosted their target price on shares of SM Energy from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 8th. Finally, Wells Fargo & Company increased their price objective on shares of SM Energy from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, SM Energy currently has an average rating of “Buy” and a consensus price target of $46.67.

Shares of SM Energy stock traded up $1.03 on Friday, hitting $42.04. 2,039,207 shares of the company’s stock traded hands, compared to its average volume of 2,516,763. The company has a fifty day moving average of $37.71 and a two-hundred day moving average of $33.77. SM Energy has a one year low of $14.79 and a one year high of $43.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 840.97 and a beta of 5.48.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, May 6th. Investors of record on Friday, April 22nd will be given a $0.01 dividend. The ex-dividend date is Thursday, April 21st. This represents a dividend yield of 0.1%. SM Energy’s dividend payout ratio is presently 40.01%.

In other news, CAO Patrick A. Lytle sold 6,776 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $42.01, for a total value of $284,659.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David J. Whitcomb sold 9,254 shares of the stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $39.45, for a total value of $365,070.30. The disclosure for this sale can be found here. Insiders sold a total of 65,562 shares of company stock valued at $2,640,925 over the last quarter. 1.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SM. Assenagon Asset Management S.A. increased its position in SM Energy by 35.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 86,722 shares of the energy company’s stock worth $2,288,000 after buying an additional 22,828 shares during the period. Oregon Public Employees Retirement Fund increased its position in SM Energy by 1.9% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 44,206 shares of the energy company’s stock worth $1,166,000 after buying an additional 840 shares during the period. Strs Ohio increased its position in SM Energy by 77.8% during the 3rd quarter. Strs Ohio now owns 14,400 shares of the energy company’s stock worth $379,000 after buying an additional 6,300 shares during the period. New York State Teachers Retirement System increased its position in SM Energy by 1.3% during the 3rd quarter. New York State Teachers Retirement System now owns 161,011 shares of the energy company’s stock worth $4,247,000 after buying an additional 2,000 shares during the period. Finally, Texas Permanent School Fund increased its position in SM Energy by 9.8% during the 3rd quarter. Texas Permanent School Fund now owns 89,671 shares of the energy company’s stock worth $2,366,000 after buying an additional 8,030 shares during the period. Institutional investors and hedge funds own 89.43% of the company’s stock.

About SM Energy (Get Rating)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.

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