SM Energy (NYSE:SM) Expected to Post Quarterly Sales of $762.03 Million

Equities analysts expect SM Energy (NYSE:SM – Get Rating) to report sales of $762.03 million for the current quarter, Zacks reports. Five analysts have issued estimates for SM Energy’s earnings, with the lowest sales estimate coming in at $676.06 million and the highest estimate coming in at $933.00 million. SM Energy reported sales of $563.85 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.1%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that SM Energy will report full-year sales of $3.02 billion for the current fiscal year, with estimates ranging from $2.58 billion to $3.69 billion. For the next year, analysts forecast that the business will report sales of $3.25 billion, with estimates ranging from $2.98 billion to $3.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for SM Energy.

SM Energy (NYSE:SM – Get Rating) last released its earnings results on Thursday, April 28th. The energy company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.09). The company had revenue of $859.78 million during the quarter, compared to analysts’ expectations of $765.23 million. SM Energy had a return on equity of 26.11% and a net margin of 11.07%. SM Energy’s quarterly revenue was up 93.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS.

Several research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of SM Energy from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. KeyCorp increased their price objective on shares of SM Energy from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. Barclays increased their price objective on shares of SM Energy from $23.00 to $39.00 in a research report on Friday, March 18th. StockNews.com assumed coverage on shares of SM Energy in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Raymond James raised their price target on shares of SM Energy from $57.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, SM Energy currently has a consensus rating of “Buy” and an average target price of $47.56.

In related news, VP David J. Whitcomb sold 44,771 shares of SM Energy stock in a transaction on Monday, April 18th. The shares were sold at an average price of $41.79, for a total value of $1,870,980.09. Following the sale, the vice president now owns 39,925 shares of the company’s stock, valued at approximately $1,668,465.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patrick A. Lytle sold 6,776 shares of SM Energy stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $42.01, for a total transaction of $284,659.76. The disclosure for this sale can be found here. Insiders have sold a total of 110,333 shares of company stock worth $4,511,905 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SM. Bellwether Advisors LLC acquired a new stake in SM Energy in the 4th quarter valued at $32,000. Eaton Vance Management grew its stake in SM Energy by 27.8% in the 4th quarter. Eaton Vance Management now owns 8,052 shares of the energy company’s stock valued at $32,000 after acquiring an additional 1,751 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in SM Energy in the 4th quarter valued at $44,000. Byrne Asset Management LLC acquired a new stake in SM Energy during the 1st quarter worth $51,000. Finally, US Asset Management LLC acquired a new stake in SM Energy during the 1st quarter worth $99,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SM opened at $37.55 on Friday. The company’s 50-day moving average price is $38.23 and its 200-day moving average price is $35.07. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94. The stock has a market cap of $4.58 billion, a PE ratio of 13.70 and a beta of 5.19. SM Energy has a 12 month low of $14.79 and a 12 month high of $43.69.

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, May 6th. Stockholders of record on Friday, April 22nd were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, April 21st. This represents a dividend yield of 0.1%. SM Energy’s payout ratio is 0.76%.

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.

Read More